Question: 1. General Computers Inc. purchased a computer server for $60,000. It paid 35.00% of the value as a down payment and received a loan for

1. General Computers Inc. purchased a computer server for $60,000. It paid 35.00% of the value as a down payment and received a loan for the balance at 10.00% compounded semi-annually. It made payments of $2,550.81 at the end of every quarter to settle the loan.

a. How many payments are required to settle the loan? payments Round up to the next payment

2. Blake received a loan of $15,000 at 4.50% compounded quarterly. He had to make payments at the end of every quarter for a period of 1 year to settle the loan.

a. Calculate the size of payments. Round to the nearest cent

3. Stephen received a loan of $33,000 at 3.25% compounded quarterly. He had to make payments at the end of every quarter for a period of 6 years to settle the loan.

a. Calculate the size of payments. Round to the nearest cent

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