Question: CTL (Concrete Testing Lab) borrowed $40,000 for new equipment at 9% 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 9% per year, compounded quarterly. It is to be paid back over 3 years in equal quarterly payments. a) How much interest is in the 6 th payment? b) How much principal is in the 6th payment? c) What principal is owed immediately following the 6 th payment

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