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Anna received a loan of $1,400 at 4.75% compounded quarterly. She had to make payments at the end of every quarter for 1 year to

Anna received a loan of $1,400 at 4.75% compounded quarterly. She had to make payments at the end of every quarter for 1 year to settle the loan.

a. Calculate the size of the quarterly payments.

Round to the nearest cent

b. Complete the amortization schedule, rounding the answers to the nearest cent.

Payment NumberAmount Paid Interest Portion Principal Portion Principal Balance 0 $1,400.00 1 2 3 4 Total

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