Steven received a loan of $1,800 at 5.50% compounded quarterly. She had to make payments at the end of every quarter for 1 year to settle the loan.

Schedule can be completed in Excel. No work needs to be shown for schedule entries.

a. Calculate the size of the quarterly payments.

Round to the nearest cent

b. Complete the amortization schedule, rounding the answers to the nearest cent.

Payment Number	Amount Paid	Interest Portion	Principal Portion	Principal Balance
0				$1,800.00
1
2
3
4
Total