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Question

phi · Answer

what is the interest on the loan after one month?

phi · Answer

do you know how to calculate the interest on the first month of the loan?

phi · Answer

I got 135992.375  for principal plus interest.  Round  135992.38

Now make the 1st payment 1500, and you have left
134492.38

do that one more time.  But just calculate the interest not principal plus interest
1500- interest is the amount applied to the principal

phi · Answer

at the start of the second month the loan is worth
134492.38
the interest on the loan for the 2nd month is 0.0525/12 * 134492.38 = 588.404

now the 1500 payment is made.  The first 488.40 of it pay the interest. what is left over pays down the principal

phi · Answer

yes.   911.60