indfini

Exercises: Amortization of a loan 1. Alberto received a $10,000 loan at 4% capitalized quarterly from a credit union. This money served as working capital for his business. He had to make payments at the end of each three-month period, for a year, to repay the loan. a. How much were her quarterly payments? b. Create a loan amortization schedule. c. What was the total amount paid to amortize the loan? d. What was the cost of financing (the total interest paid)