General Computers Inc. purchased a computer server for $65,500. It paid 25.00% ofthe value as a down payment and received a loan for the balance at 6.50%compounded semi-annually. It made payments of $2,400.41 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.Payment Number011Payment$0.00$0.00Interest Portion Principal Portion50.0050,00SUBMIT QUESTION$0.0050.00Principal Balance$49.125.00$0.00$0.00 Round up to the next paymentb. Fill in the partial amortization schedule for the loan, rounding your answers to twodecimal places.Payment Number02#1110TotalPayment#1$0.00$0.00$0.0050.00Question 2 of 3$0.00Interest Portion Principal Portion$0.00$0.0044$0.00$0.0050.00$0.00$0.0050.0050.00Principal Balance$49,125.0014$0.000.00$0.00$0.00

Purchase price 65500 Loan 49,125 Interest rate 6.50% Time (in months)…

General Computers Inc. purchased a computer server for $65,500. It paid 25.00% of the value as a down payment and received a loan for the balance at 6.50% compounded semi-annually. It made payments of $2,400.41 at the end of every quarter to settle the loan. a. How many payments are required to settle the loan? o payments Round up to the next payment b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places. Payment Number 0 Payment $0.00 $0.00 Interest Portion 50.00 50.00 SUBMIT QUESTION Principal Portion $0.00 50.00 Principal Balance $49.125.00 $0.00 $0.00

General Computers Inc. purchased a computer server for $65,500. It paid 25.00% of the value as a down payment and received a loan for the balance at 6.50% compounded semi-annually. It made payments of $2,400.41 at the end of every quarter to settle the loan. a. How many payments are required to settle the loan? o payments Round up to the next payment b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places. Payment Number 0 Payment $0.00 $0.00 Interest Portion 50.00 50.00 SUBMIT QUESTION Principal Portion $0.00 50.00 Principal Balance $49.125.00 $0.00 $0.00

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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