Question: Your answer is partially correct. Aerotron Electronics has just bought a used delivery truck for $15,000. The small business paid $1,000 down and financed the

Your answer is partially correct. Aerotron Electronics has just bought a used delivery truck for $15,000. The small business paid $1,000 down and financed the rest. with the agreement to pay nothing for the entire first year and then to pay $556.83 at the end of each month over years 2, 3, and 4 (first payment is in 13th month). a. What nominal interest rate is Aerotron paying on the loan? 10.63 % b. What effective interest rate are they paying? 11.16 % 372 Round your answer to 4 decimal places for a and b. The tolerance is 0.0005. c. How much of the 14th month's payment is interest? How much is principal? payment interest - $ 1346 and principal - $ d. How much of the 13th month's payment is interest? How much is principal? payment interest - $ 125 and principal - $ e. How much of the 22nd month's payment is interest? How much is principal? payment interest - $ 107 and principal - $ 386 400 Round your answers to the nearest whole dollar for c-e. The tolerance is t 5

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