Payment NumberP2"*Payment⠀⠀$0.00$0.00Interest Portion Principal Portion Principal Balance$0.00$0.00$0.00$0.00⠀⠀$35,100.00$0.00$0.00:::: General Computers Inc. purchased a computer server for $58,500. It paid 40.00% ofthe value as a down payment and received a loan for the balance at 8.00%compounded semi-annually. It made payments of $2,650.41 at the end of everyquarter to settle the loan.a. How many payments are required to settle the loan?o paymentsRound up to the next paymentb. Fill in the partial amortization schedule for the loan, rounding your answers to twodecimal places.

Step 1 An amortized bond is one in which, during the course of the bond's existence, both the…

Answered: General Computers Inc. purchased a…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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To pay for remodeling, the company will take out a $500,000 five-year loan at 9.5% interest, compounded quarterly. The terms of the loan have been entered in the Loan Analysis worksheet. In cell B8, calculate the quarterly payment on the loan based on the loan conditions already entered. Complete the amortization schedule in cells B11 through E30. Column B contains the interest payment for each quarter, and column C contains the principal payment. Column D contains the remaining principal at the start of each month. The initial principal remaining is $500,000. The subsequent remaining principal values are reduced by the principal payment made in the previous quarter. Calculate the ending balance in cell D31. Use the IPMT function in cell B11 to calculate the interest amount paid per period. Copy this formula to cell B30. Use the PPMT function in cell C11 to calculate the principal amount paid per period. Copy this formula to cell C30. Write a formula in cell D11 to indicate the…
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