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Travis received a loan of $9,000 at 5.50% compounded quarterly. He had to make payments at the end of every quarter for a period of

Travis received a loan of $9,000 at 5.50% compounded quarterly. He had to make payments at the end of every quarter for a period of 1 year to settle the loan.

a. Calculate the size of payments.

b. Fill in the amortization schedule, rounding the answers to two decimal places.

Payment Number

Amount Paid

Interest Portion

Principal Portion

Principal Balance

0

$9,000.00

1

2

3

4

Total

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