The following table shows a portion of a four-year amortization schedule.
4 Year Amortization Schedule
Loan Amount or Principal
Interest Rate on Loan
Extra Payment to Principal
Month
Payment
23 S
699.35
$
24 $
699.35 $
25 $ 699.35 $
26 S
699.35 $
27 S
699.35 $
28 S
699.35 $
29 S
699.35 $
30 $
699.35 $
31 S
Balance
130.50 $ 15,794.35
125.96 $ 15,220.96
121.39 $ 14,642.99
116.78 $ 14,060.41
112 13 S 13,473.19
107.45 S 12,881.29
102.73 $ 12,284.66
97.97 $11.683.28
93.17 S 11,077.10
88.34 S 10.466.09
83.47 S
9.850.20
78.56 S
9.229.41
73.60 S
8.603.66
68.61 S 7.972.92
After three years, how much of the principal has been paid off?
32 $
33 $
34 S
35 $
36 S
699.35 $
699.35 $
699.35 $
699.35 $
699.35 $
699.35 S
$ 27.800.00
9.57%
Principal
S
568.86 S
573.39 $
577.97 S
582.58 S
587.22 S
591.90 S
596 62 S
601.38 S
606 18 S
611.01 S
615.89 S
620.80 S
625.75 S
630 74 S
Interest