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You are told that a note has repayment terms of $ 9 5 0 per quarter for 4 years, with a stated interest rate of

You are told that a note has repayment terms of $950 per quarter for 4 years, with a stated interest rate of 4%. 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.)
Total payment for principal
$enter a dollar amount rounded to 2 decimal places
Total interest
$enter a dollar amount rounded to 2 decimal places
Determine if the total interest will be higher or lower than with an annual payment.
The total interest will be select an option
than with an annual payment.

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