General Computers Inc. purchased a computer server by taking a loan of $32,000 at 2.25% compounded semi-annually.

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General Computers Inc. purchased a computer server by taking a loan of $32,000 at 2.25% compounded semi-annually. It made payments of $2,650 at the end of every half-year to settle the loan.

a. How many payments are required to settle the loan?

b. Complete the partial amortization schedule, rounding the answers to the nearest ent.

Related Book For answer-question

Essentials of Accounting for Governmental and Not-for-Profit Organizations

ISBN: 978-0073527055

10th Edition

Authors: Paul A. Copley

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Posted Date: May 30, 2022 12:52 AM

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General Computers Inc. purchased a computer server by taking a loan of $32,000 at 2.25% compounded semi-annually.

Question:

Payment Number Payment Interest Portion Principal Portion Principal Balance Payment Number Payment Interest Portion Principal Portion Principal Balance

Expert Answer:

1 Loan 32000 Rate 225 Compounded Sem... View the full answer

Essentials of Accounting for Governmental and Not-for-Profit Organizations

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