Question: Consider a $21,281.27 loan for 7 years at 8% interest compounded quarterly with a payment of $1000 per quarter-year. (a) Compute the unpaid balance after

Consider a $21,281.27 loan for 7 years at 8% interest compounded quarterly with a payment of $1000 per quarter-year.
(a) Compute the unpaid balance after 5 years.
(b) How much interest is paid during the fifth year?
(c) How much principal is repaid in the first payment?
(d) What is the total amount of interest paid on the loan?
(e) Prepare the amortization schedule for the first 4 months.

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