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Aerotron Electronics has just bought a used delivery truck for $ 1 5 , 0 0 0 . The small business paid $ 1 ,

Aerotron Electronics has just bought a used delivery truck for $15,000. The small business paid $1,000 down and financed the rest,
with the agreement to pay nothing for the entire first year and then to pay $506.83 at the end of each month over 2,3, and 4
(first payment is in 13th month).
a. What nominal interest rate is Aerotron paying on the loan?
%
b. What effective interest rate are they paying?
%
Round your answer to 4 decimal places for a and b. The tolerance is +-0.0005.
c. How much of the 14th month's payment is interest? How much is principal?
payment interest =$
, and principal =$
d. How much of the 18th month's payment is interest? How much is principal?
payment interest =$
, and principal =$
e. How much of the 22nd month's payment is interest? How much is principal?
payment interest =$
, and principal =$
Round your answers to the nearest whole dollar for c-e. The tolerance is +-5.
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