Tanya Cordobes borrowed $9,500 from a bank. The loan was amortized over two years. Tanya made equal monthly payments of $434.00, which included interest on the unpaid balance of 0.75% per month (9% annually). Complete the first two months of the amortization schedule.
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Amortization Schedule

An Amortization Schedule is a table detailing each periodic payment on an amortizing loan, showing amounts paid to principal and interest.

Interest on Unpaid Balance

Interest charged on the portion of a loan or credit card balance that has not been paid off within the agreed period.

Equal Monthly Payments

Regular payments of the same amount made over a set period to repay a loan or mortgage.