Question: 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

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.

Payment Number Payment Interest Portion Principal Portion Principal Balance

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