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How many payments are required to settle the loan

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Question - General Computers Inc. purchased a computer server for $50,500. It paid 45% of the value as a down payment and received a loan for the balance at 4% compounded semi-annually. It made payments of $2,750.19 at the end of every quarter to settle the loan.

a. How many payments are required to settle the loan?

b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places.

Reference no: EM132608768

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