233k views
2 votes
Following shows the loan amortization table for month 1 of the loan repayment. Find the ending balance.

month beg balance total pmt principal interest end balance
1 560,000.00 3,695.75 ? 2,333.33 ???

a. $557,666,67
b. $558,637.58
c. $556,304.25
d. $560,000.00

User NoLifeKing
by
8.2k points

1 Answer

3 votes
The answer is b $558,637.58
User Tapy
by
8.4k points