Sophie received a loan of $28,000 at 6.5% compounded quarterly. She had to make payments at the end of every quarter for a period of 8 years to settle the loan.

a. Calculate the size of payments.

Round to the nearest cent

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				$28,000.00
1
2
: :	: :	: :	: :	: :
: :	: :	: :	: :	: :
				0.00
Total