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as for Chegg guidelines, this is fine to answer the 3 QUESTIONS. Caleb purchased a machine for $24,000 for his company. He paid 5.00% of
as for Chegg guidelines, this is fine to answer the 3 QUESTIONS.
Caleb purchased a machine for $24,000 for his company. He paid 5.00% of this amount as a down payment and financed the rest at 6.32% compounded monthly. He paid $1,125 at the end of every month 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 Question 8 of 9 Paige's student loan of $25,000 at 5.02% 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 3 years? $0.00 Round to the nearest centStep by Step Solution
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