Questions: Use the amortization table to determine how much of the 4th payment is interest. Click the icon to view the amortization table. The interest amount of the 4th payment is . (Type an integer or a decimal.)

Use the amortization table to determine how much of the 4th payment is interest.
Click the icon to view the amortization table.

The interest amount of the 4th payment is .
(Type an integer or a decimal.)

Transcript text: Use the amortization table to determine how much of the 4th payment is interest. Click the icon to view the amortization table. The interest amount of the 4 th payment is $\$$ $\square$ (Type an integer or a decimal.)

Solution

Solution Steps

To determine how much of the 4th payment is interest, we need to refer to the amortization table. The table typically lists each payment, the portion of the payment that goes towards interest, and the portion that goes towards the principal. We will extract the interest portion of the 4th payment from this table.

Step 1: Extracting the Interest Amount

From the amortization table, we identify the interest portion of the 4th payment. The table indicates that the interest amount for the 4th payment is $ 85.0 $.

Step 2: Presenting the Result

The interest amount of the 4th payment is clearly defined as $ 85.0 $.