Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 8 of 9 General Computers Inc. purchased a computer server for $67,000. It paid 40.00% of the value as a down payment and received

image text in transcribed

Question 8 of 9 General Computers Inc. purchased a computer server for $67,000. It paid 40.00% of the value as a down payment and received a loan for the balance at 9.50% compounded semi-annually. It made payments of $2,700.25 at the end of every quarter to settle the loan. a. How many payments are required to settle the loan? payments Round up to the next payment b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places. Payment Number Payment Interest Portion Principal Portion Principal Balance 0 $40,200.00 1 2 0.00 Total Question 8 of 9 General Computers Inc. purchased a computer server for $67,000. It paid 40.00% of the value as a down payment and received a loan for the balance at 9.50% compounded semi-annually. It made payments of $2,700.25 at the end of every quarter to settle the loan. a. How many payments are required to settle the loan? payments Round up to the next payment b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places. Payment Number Payment Interest Portion Principal Portion Principal Balance 0 $40,200.00 1 2 0.00 Total

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Essentials You Always Wanted To Know Self Learning Management Series

Authors: Vibrant Publishers , Kalpesh Ashar

5th Edition

1636510973, 978-1636510972

More Books

Students also viewed these Finance questions

Question

What is Taxonomy ?

Answered: 1 week ago

Question

1. In taxonomy which are the factors to be studied ?

Answered: 1 week ago

Question

1.what is the significance of Taxonomy ?

Answered: 1 week ago

Question

What are the advantages and disadvantages of leasing ?

Answered: 1 week ago

Question

9-17. How are emotional and logical appeals balanced?

Answered: 1 week ago