QUESTION 1.1

QUESTION 1.2

A $23,330 loan is to be settled by making payments of $6,913 at the end of every three months. The interest is 6.94% compounded monthly. 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. You have taken out a loan of $24,000 for 4 years with an interest rate of 3% compounded annually. The loan will be repaid by end of year payments. Fill in all the boxes below, and round all entries to the nearest cent. Enter only positive values for ALL ANSWERS. First 3 payment amounts: $