Question: 11. + CTL (Concrete Testing Lab) borrowed $80,000 for new equipment at 8% per year, compounded quarterly. It is to be paid back over three

11. + CTL (Concrete Testing Lab) borrowed $80,000 for new equipment

11. + CTL (Concrete Testing Lab) borrowed $80,000 for new equipment at 8% per year, compounded quarterly. It is to be paid back over three years in equal quarterly payments. For each part below, use both the interest tables and the Excel financial functions. Compare answers between the two. a. How much interest is in the 6th payment? b. How much principal is in the 6th payment? c. What principal is owed immediately following the 6th payment

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