Question: General Computers Inc. purchased a computer server for $71,500. It paid 35.00% of the value as a down payment and received a loan for the

General Computers Inc. purchased a computer server for $71,500. It paid 35.00% of the value as a down payment and received a loan for the balance at 7.50% compounded semi-annually. It made payments of $2,600.05 at the end of every quarter to settle the loan.

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

# of 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

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