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Question Bob Katz is purchasing a new Honda Pilot for $35,000. He is financing $30,000 with a six year, 4% loan with annual payments. Construct an amortization schedule, in the 2nd year row, corresponding to his second annual payment, what is the dollar amount of the principal reduction? $5018 $4630 $4939 $4704

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Question

Bob Katz is purchasing a new Honda Pilot for $35,000. He is financing $30,000 with a six year, 4% loan with

annual payments. Construct an amortization schedule, in the 2nd year row, corresponding to his second annual payment, what is the dollar amount of the principal reduction?

$5018

$4630

$4939

$4704

 
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