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QUESTION $1$

$10$ points

A company received a loan of $$70,000$ at $4\%$ compounded quarterly to purchase equipment. The company paid $$5,000$ at the end of every $6$ months to settle the loan. Determine the number of payments required and complete the amortization table. Do not use the cashflow sign convention in the chart.

$N=$

Round UP to the nearest payment.

$\backslash$table$[[\backslash$table$[[$Payme$],[$nt$],[$Numb$],[$er$]],$Payment Size,,Interest Portion,$],[0,,,,],[1,,,,]]$

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$6$:$04$ PM