1.Daniel's student loan of $23,500 at 2.92% compounded quarterly was amortized over 4 years with payments made at the end of every month. What was the principal balance on the loan after 2 years?

Hannah purchased a machine for $21,000 for his company. He paid 5.00% of this amount as a down payment and financed the rest at 6.82% compounded quarterly. He paid $1,125 at the end of every quarter to settle the loan.

a. What was the principal portion of payment number 4?

Round to the nearest cent

b. What was the interest portion of payment number 4?

Round to the nearest cent