Solve using Texas instrument BA II Plus

Question 2 (40 points) Fountain Corp will take a loan of 310,000.00 that is to be amortized by making payments at the end of quarter for 23 years. Interest on the debt is 11% compounded quarterly. Note: the number in brackets shows the points value for that blank. 1 - Calculate the amount of the semi-annual loan payments. Round to 2 decimal places 2 - Using the AMORT function, find the values for the blanks in the table below. Payment Amount paid Interest paid Principal Paid Balance per calculation 8,525.00 765.82 309,234.18 2 - Using the AMORT Function fill in the blanks from the amortization schedule shown above. 1 - Balance at the beginning of the loan (1) 15 per calculation 8,171.20 296,014.76 27 7,740.38 per calculation 1,550.44 2 - Principal paid as part of the 15th payment (2) 47 per calculation 2.667.42 238,183.60 FINAL 5 3 - Balance owing after the 27th payment (2) Total Interest Paid Total Cost of Loan Start by calculating the payment amount required to pay off the loan END/BEG (1) 4 - Interest paid as part of the 47th payment (2) 5- Balance owing after the final payment (1) P/Y(1) 6 - Principal paid with the final payment (4) C/Y (1) N(2) 7 - Interest paid with the final payment (4) 1/Y (1) 8 - Amount of final payment (4) PV (1) 9 - Total interest paid on the loan (4) FV (1) 10 - Total cost of the loan (4) PMT(4) Question 2 (40 points) Fountain Corp will take a loan of 310,000.00 that is to be amortized by making payments at the end of quarter for 23 years. Interest on the debt is 11% compounded quarterly. Note: the number in brackets shows the points value for that blank. 1 - Calculate the amount of the semi-annual loan payments. Round to 2 decimal places 2 - Using the AMORT function, find the values for the blanks in the table below. Payment Amount paid Interest paid Principal Paid Balance per calculation 8,525.00 765.82 309,234.18 2 - Using the AMORT Function fill in the blanks from the amortization schedule shown above. 1 - Balance at the beginning of the loan (1) 15 per calculation 8,171.20 296,014.76 27 7,740.38 per calculation 1,550.44 2 - Principal paid as part of the 15th payment (2) 47 per calculation 2.667.42 238,183.60 FINAL 5 3 - Balance owing after the 27th payment (2) Total Interest Paid Total Cost of Loan Start by calculating the payment amount required to pay off the loan END/BEG (1) 4 - Interest paid as part of the 47th payment (2) 5- Balance owing after the final payment (1) P/Y(1) 6 - Principal paid with the final payment (4) C/Y (1) N(2) 7 - Interest paid with the final payment (4) 1/Y (1) 8 - Amount of final payment (4) PV (1) 9 - Total interest paid on the loan (4) FV (1) 10 - Total cost of the loan (4) PMT(4)