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QUESTION 1.1 QUESTION 1.2 A $22,950 loan is to be settled by making payments of $6,934 at the end of every month. The interest is

QUESTION 1.1

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QUESTION 1.2

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A $22,950 loan is to be settled by making payments of $6,934 at the end of every month. The interest is 6.29% compounded quarterly. a) Find the number of payments in the term. N= b) Fill in the missing values of the amortization schedule below. Round off your answers to two decimal places. Enter a positive value for all answers. Hannah and Andres borrowed $50,000 at 6.26% compounded quarterly as a second mortgage loan against their current home. Repayment amount is $750 at the end of every month. a. How many payments are required to repay the loan? Number of payments = b. Use the given information to complete the amortization table below. Determine the missing values for the first two payment intervals, the last two payment intervals, and the totals. Report results to the nearest cent

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