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Question 3 of 9 Nathan received a loan of $14,000 at 6.75% compounded quarterly. She had to make payments at the end of every quarter
Question 3 of 9 Nathan received a loan of $14,000 at 6.75% compounded quarterly. She had to make payments at the end of every quarter for a period of 1 year to settle the loan. a. Calculate the size of payments. 0.00 Round to the nearest cent b. Fill in the amortization schedule, rounding the answers to two decimal places. Payment Number Amount Paid Interest Portion Principal Portion Principal Balance $14,000.00 50.00 $0.00 $0.00 $0.00 1 $0.00 S0.00 S0.00 $0.00 2 $0.00 S0.00 S0.00 $0.00 3 $0.00 $0.00 $0.00 50.00 4 $0.00 $0.00 $0.00 Total Jasmine purchased a machine for $25,500 for her company. She paid 5.00% of this amount as a down payment and financed the rest at 5.82% compounded quarterly. She paid $1,125 at the end of every quarter to settle the loan. a. What was the principal portion of payment number 4? $0.00 Round to the nearest cent b. What was the interest portion of payment number 4? S0.00 Round to the nearest cent
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