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Present the intermediate calculations. Only final answers won't be considered. a ) To renew the house, Ana got a loan of $ 4 5 ,

Present the intermediate calculations. Only final answers won't be considered.
a) To renew the house, Ana got a loan of $45,521 that charged 8% compounded quarterly. She agreed to make quarterly
payments for 3 years.
(i) What is the size of the quarterly payment?
(ii) For the first payment, how much of the payment is interest?
(iii) For the first payment, how much of the loan principal is repaid?
(iv) After the first payment, how much of the loan remains to be paid?
(v) For the second payment, how much of the payment is interest?
(vi) For the second payment, how much of the loan principal is repaid?
(vii) After the second payment, how much of the loan remains to be paid?
(viii) How much is the last payment of the loan?
(ix) Construct an amortization schedule.
b) To renew the house, Ana has negotiated with the bank to pay equally quarterly payments of $4,305 for 3 years that charged
8% compounded quarterly. Answer the same questions (i) to (ix) as before.
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