Question: General Computers Inc. purchased a computer server for $72,500. It paid 40.00% of the value as a down payment and received a loan for

General Computers Inc. purchased a computer server for $72,500. It paid 40.00%

General Computers Inc. purchased a computer server for $72,500. It paid 40.00% of the value as a down payment and received a loan for the balance at 8.00% compounded semi-annually. It made payments of $2,850.12 at the end of every quarter to settle the loan. a. How many payments are required to settle the loan? 0 payments Round up to the next payment b. Fill in the partial amortization schedule for the loan, round your answers to two decimal places. Payment Number Payment Interest Portion Principal Portion Principal Balance 0 $43,500.00 $0.00 1 $0.00 $0.00 $0.00 $0.00 $0.00 2 $0.00 $0.00 0 $0.00 $0.00 $0.00 $0.00 0 $0.00 $0.00 $0.00 0.00 $0.00 $0.00 0 Total

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!