Question
Large semitrailer trucks cost $135,000 each. A trucking company buys such a truck and agrees to pay for it by a loan that will be
Large semitrailer trucks cost $135,000 each. A trucking company buys such a truck and agrees to pay for it by a loan that will be amortized with 8 semiannual payments at 17% compounded semiannually. Complete an amortization schedule for the first four payments of the loan.
(Round to the nearest cent as needed. Do not include the $ symbol in your answers.)
Payment Number | Amount of Payment | Interest Payment | Applied to Principal | Balance | |
---|---|---|---|---|---|
$135,000 | |||||
1 | $enter your response here | $enter your response here | $enter your response here | $enter your response here |
Part 2
2 | $enter your response here | $enter your response here | $enter your response here | $enter your response here |
Part 3
3 | $enter your response here | $enter your response here | $enter your response here | $enter your response here |
Part 4
4 | $enter your response here | $enter your response here | $enter your response here | $enter your response here |
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