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Aaron purchased a machine for $21,000 for her company. She paid 5.00% of this amount as a down payment and financed the rest at 7.92%
Aaron purchased a machine for $21,000 for her company. She paid 5.00% of this amount as a down payment and financed the rest at 7.92% compounded quarterly. She paid $1,125 at the end of every quarter to settle the loan.
a. What was the principal portion of payment number 4? $0.00 Round to the nearest cent
b. What was the interest portion of payment number 4? $0.00 Round to the nearest cent
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