Fill in the table below assuming end-of-month draws, 8% interest per annum compounded monthly, and no payments owed for either interest or principal during the construction.

$$\begin{array} { | l | l | l | l | }
\hline \text { Month } & \text { New Draw } & \text { Current Interest } & \text { New Loan Balance } \
\hline 1 & \$ 500,000 & & \
\hline 2 & \$ 700,000 & & \
\hline 3 & \$ 400,000 & & \
\hline
\end{array}$$

Question

Fill in the table below assuming end-of-month draws, 8% interest per annum compounded monthly, and no payments owed for either interest or principal during the construction.
 
$$\begin{array} { | l | l | l | l | } 
\hline \text { Month } & \text { New Draw } & \text { Current Interest } & \text { New Loan Balance } \
\hline 1 & \$ 500,000 & & \
\hline 2 & \$ 700,000 & & \
\hline 3 & \$ 400,000 & & \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Fill in the table below assuming end-of-month draws, 8% interest per annum compounded monthly, and no payments owed for either interest or principal during the construction.
 
$$\begin{array} { | l | l | l | l | } 
\hline \text { Month } & \text { New Draw } & \text { Current Interest } & \text { New Loan Balance } \
\hline 1 & \$ 500,000 & & \
\hline 2 & \$ 700,000 & & \
\hline 3 & \$ 400,000 & & \
\hline
\end{array}$$

Fill in the Table Below Assuming End-Of-Month Draws, 8% Interest