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You are told that a note has repayment terms of $1,550 per quarter for 6 years, with a stated interest rate of 8%. How much

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You are told that a note has repayment terms of $1,550 per quarter for 6 years, with a stated interest rate of 8%. How much of the total payment is for principal, and how much is for interest? Calculate using (a) financial calculator or (b) Excel function PV. (Round answers to 2 decimal places, e.g. 5,275.25.)

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