Question: You need to construct an amortization schedule for a $400, 12% nominal rate loan with 8 quarters equal payments . Note: To receive full credit,

You need to construct an amortization schedule for a $400, 12% nominal rate loan with 8 quarters equal payments.

Note: To receive full credit, show numbers / formulas you used to get your answer(s).

a. (10 points) Find quarterly payment.

b. (5 points)Find periodic rate.

c. (5 points)Find the ending balance of first quarter.

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