The following table shows a portion of a four-year amortization schedule. 4 Year Amortization Schedule
Loan Amount or Principal $ 27,800.00
Interest Rate on Loan
9.57%
Extra Payment to Principal S
Month Payment Principal Interest Balance
23 $ 699.35S 568.86 $ 130.50 $ 15.794.35
24 S 699.355 573.39 $ 125.96 $ 15.220.96
25 $ 699.35 $ 577.97$ 121.39 $ 14,642.99
26 $ 699.35 S 582.58S 116.78 $ 14,060.41
27 S 699.35S 587.22S 112.13 $ 13,473.19
28 $ 699.35 $ 591.90 S 107 45 $ 12.881.29
29 S 699.35 $ 596.625 102.73 $ 12.284.66
30 $ 699.35 $ 601.38$ 97.97 $ 11.683.28
31 S 699.35 $ 606.18$ 93.17 $ 11 077 10
32 S 699.35$ 611.01$ 88.34 $ 10.466.09
33 5 699.35 $ 615.89 $ 83.47 $ 9.850.20
34 $ 699.355 620.80 $ 78.56 $ 9.229.41
35 $ 699.35 $ 625.75 $ 73.60S 8.603.66
36 $ 699.35 $ 630.74 $ 68.61 $ 7.972.92
After three years, how much of the principal has been paid off?