Apex Corporation borrowed $85 000 at 8% compounded quarterly for eight years to buy a warehouse. Equal payments are made
(a) Determine the size of the quarterly payments.
(b) Compute the interest included in the 16th payment.
(c) Determine the principal repaid in the 20th payment period.
(d) Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals.
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Question Posted: February 26, 2016 04:08:58