Chapter 03, Problem 011 CTL (Concrete Testing Lab) borrowed $80,000 for new equipment at 10% per year, compounded quarterly

Economics Nov 11, 2020

Chapter 03, Problem 011 CTL (Concrete Testing Lab) borrowed $80,000 for new equipment at 10% per year, compounded quarterly. It is to be paid back over 4 years in equal quarterly payments. Click here to access the TVM Factor Table Calculator How much interest is in the 6th payment? $ Carry all interim calculations to 5 decimal places and then round your final answer to the nearest dollar. The tolerance is +5. How much principal is in the 6th payment? $ Carry all interim calculations to 5 decimal places and then round your final answer to the nearest dollar. The tolerance is +5. What principal is owed immediately following the 6th payment? $ Carry all interim calculations to 5 decimal places and then round your final answer to the nearest dollar. The tolerance is £5.

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