Manexa Corporation borrowed $80,000.00 at 11% compounded quarterly for 6 years to buy a warehouse. Equal payments are made at the end of every 3 months.

a) Determine the size of the quarterly payments.

b) Compute the interest included in payment 9.

c) Determine the principal repaid in payment period 12.

d) Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals.

(a) The size of the quarterly payment is $___.

(b) The interest included in payment 9 is $___.

(c) The principal repaid in payment period 12 is $___.

(d) Complete the table below for the first three payments in the schedule.

Payment Number	Amount Paid	Interest Paid	Principal Repaid	Outstanding Principal Balance
0				$80,000.00
1	$	$	$	$

2

$

$

$

$

3

$

$

$

$

Complete the table for the last three payments.

Payment Number	Amount Paid	Interest Paid	Principal Repaid	Outstanding Principal Balance
22	$enter your response here	$enter your response here	$enter your response here	$enter your response here

23

$enter your response here

$enter your response here

$enter your response here

$enter your response here

24

$enter your response here

$enter your response here

$enter your response here

$0

Total Paid =

$enter your response here

(Do not round until the final answer. Then round to the nearest cent as needed.)

Interest Paid =

$enter your response here