General Computers Inc. purchased a computer server for $63,000. It paid 40.00% of the value as a

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Question:

General Computers Inc. purchased a computer server for $63,000. It paid 40.00% of the value as a down payment and received a loan for the balance at 9.50% compounded semi-annually. It made payments of $2,900.56 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.

Payment Number	Payment	Interest Portion	Principal Portion	Principal Balance
0				$37,800.00
1
2
: :	: :	: :	: :	: :
: :	: :	: :	: :	: :
Please fill in	Please fill in	Please fill in	Please fill in	Please fill in
Please fill in	Please fill in	Please fill in	Please fill in	0.00
Total	Please fill in	Please fill in	Please fill in