Question
Tan Company purchased a large server for $33,500. The company paid 50.00% of the value as a down-payment and received a loan for the balance
Tan Company purchased a large server for $33,500. The company paid 50.00% of the value as a down-payment and received a loan for the balance at 9.15% compounded monthly. The loan has a term of 4 years and Tan Company had to make month-end payments until the loan was settled. a. Calculate the size of the month-end payments. $836.04 $418.02 $438.02 $410.95 b. What was the total amount paid to settle the loan? $40,129.92 $20,132.96 $20,064.96 $19,725.60 c. Calculate the total amount of interest paid throughout the term of the loan. $3,314.96 $23,379.92 $3,389.96 $2,975.60
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