What is the balance in the column after these payments

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Assume the following: Payment #1 totals $1,600 ($1,200 principal and $400 interest expense); Payment #2 totals $1,600 ($1,300 principal and $300 interest expense); and the remaining principal balance before these two payments is $50,000.

If the amortization schedule's Remaining Principal Balance

column prior to these payments amounts to $50,000, what is the balance in the column after these payments?

Verified Expert

It is a simple calculation to get the balance principal amount after deducting the interest payment.

Reference no: EM131584300

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