*ANSWER SECOND PROBLEM* USE DATA FROM FIRST PICTURE

You have determined that your company will purchase new manufacturing equipment using a bank loan for $415,000. The loan will be amortized over eight years and the annual interest rate will be 5.70%. You need to be able to complete the first three rows of a MONTHLY amortization schedule to answer questions 19,20 and 21. What is the fixed monthly payment? a. 5,285.40 b. 5,393.27 C. 5,339.34 d. 5,447.20 How much principal was paid with the 2nd monthly payment? (using the same data from the previous question) You have determined that your company will purchase new manufacturing equipment using a bank loan for $415,000. The loan will be amortized over eight years and the annual interest rate will be 5.70%. a. 3,421.08 b. 3,472.65 c. 3,438.27 d 3,455.46