Question: I need help with these questions. Please indicate your full solution by hand or Microsoft Excel. Thank you Michelle purchased a machine for $24,000 for

I need help with these questions. Please indicate your full solution by hand or Microsoft Excel. Thank you

Michelle purchased a machine for $24,000 for her company. She paid 5.00% of this amount as a down payment and financed the rest at 7.52% compounded quarterly. She paid $1,125 at the end of every quarter to settle the loan. a. What was the principal portion of payment number 4 ? Round to the nearest cent b. What was the interest portion of payment number 4 ? Round to the nearest cent

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