Timothy's student loan of $22,000 at 4.12% compounded quarterly was amortized over 4 years with payments made at the end of every month. What was the principal balance on the loan after 2 years? Round to the nearest cent Question 2 of 6 Rebecca purchased a machine for $29,000 for her company. She paid 5.00% of this amount as a down payment and financed the rest at 5.92% compounded monthe She $1,125 at the end of every month to settle the loan. a. What was the principal portion of payment number 4 ? Round to the nearest cent b. What was the interest portion of payment number 4