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Suppose you borrowed $32,000 for 4 years with quarterly payments at an APR of 6%. What is the quarterly payment? (ordinary annuity)

PLEASE SHOW WORK USING FORMULAS *NOT through excel or financial calulator

Amortize the first four payments. Use the table below:

(Payment number) (Payment) (Interest) (Prinicipal) (Remaining Balance)

1 _______ _______ _______ ________

2 _______ _______ ________ ________

3 _______ _______ _______ _________

4 _______ ________ _______ __________

How much in interest will you pay over the life of the loan?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92792347

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