Question: CtL (Concrete Testing Lab) borrowed $40,000 for new equipment at 10% per year, compounded quarterly. It is to be paid back over 3 years in

CtL (Concrete Testing Lab) borrowed $40,000 for new equipment at 10%

CtL (Concrete Testing Lab) borrowed $40,000 for new equipment at 10% per year, compounded quarterly. It is to be paid back over 3 years in equal quarterly payments. Click here to access the TVM Factor Table Calculator How much interest is in the 6th payment? $ Carry all interim calculations to 5 decimal places and then round your final answer to the nearest dollar. The tolerance is plusminus 5. How much principal is in the 6th payment? $ Carry all interim calculations to 5 decimal places and then round your final answer to the nearest dollar. The tolerance is plusminus 5. What principal is owed immediately following the 6th payment? $ Carry all interim calculations to 5 decimal places and then round your final answer to the nearest dollar. The tolerance is plusminus 5

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