General Computers Inc. purchased a computer server for $58,500. It paid 40.00% of the value as a down payment and received a loan for the balance at 8.00% compounded semi-annually. It made payments of $2,650.41 at the end of every quarter to settle the loan. a. How many payments are required to settle the loan? o payments Round up to the next payment b. Fill in the partial amortization schedule for the loan, rounding your answers to two

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Payment Number
P
2
"*
Payment
⠀⠀
$0.00
$0.00
Interest Portion Principal Portion Principal Balance
$0.00
$0.00
$0.00
$0.00
⠀⠀
$35,100.00
$0.00
$0.00
::
::
Transcribed Image Text:Payment Number P 2 "* Payment ⠀⠀ $0.00 $0.00 Interest Portion Principal Portion Principal Balance $0.00 $0.00 $0.00 $0.00 ⠀⠀ $35,100.00 $0.00 $0.00 :: ::
General Computers Inc. purchased a computer server for $58,500. It paid 40.00% of
the value as a down payment and received a loan for the balance at 8.00%
compounded semi-annually. It made payments of $2,650.41 at the end of every
quarter to settle the loan.
a. How many payments are required to settle the loan?
o payments
Round up to the next payment
b. Fill in the partial amortization schedule for the loan, rounding your answers to two
decimal places.
Transcribed Image Text:General Computers Inc. purchased a computer server for $58,500. It paid 40.00% of the value as a down payment and received a loan for the balance at 8.00% compounded semi-annually. It made payments of $2,650.41 at the end of every quarter to settle the loan. a. How many payments are required to settle the loan? o payments Round up to the next payment b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places.
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