Question: General Computers Inc. purchased a computer server for $55,000. It paid 35% of the value as a down payment and received a loan for the

General Computers Inc. purchased a computer server for $55,000. It paid 35% of the value as a down payment and received a loan for the balance at 8% compounded semi-annually. It made payments of $2,000.2 at the end of every quarter to settle the loan.

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

[]payments

Round up to the next payment

b.Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places.

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