Question 13 of 13 Gregory and Katherine purchased some equipment for $93,500, and paid 21% of...

Transcribed Image Text:

Question 13 of 13 Gregory and Katherine purchased some equipment for $93,500, and paid 21% of the value as a down payment. They received a small business loan for the balance at 9.65% compounded annually. They had to make payments of $3,281.46 at the end of every month to settle the loan. a. How many payments were made? A full solution for the number of payments should be shown. Submit your solution. payments Round up to the next payment period b. Fill in the partial amortization schedule for the first two payments, the last two payments, including the previous principal balance, and all totals. No work needs to be shown. Enter the value directly into the schedule. Payment Number Payment Interest Portion Principal Portion Principal Balance k Question 13 of 13 Gregory and Katherine purchased some equipment for $93,500, and paid 21% of the value as a down payment. They received a small business loan for the balance at 9.65% compounded annually. They had to make payments of $3,281.46 at the end of every month to settle the loan. a. How many payments were made? A full solution for the number of payments should be shown. Submit your solution. payments Round up to the next payment period b. Fill in the partial amortization schedule for the first two payments, the last two payments, including the previous principal balance, and all totals. No work needs to be shown. Enter the value directly into the schedule. Payment Number Payment Interest Portion Principal Portion Principal Balance k