What principal is owed immediately following sixth payment, Microeconomics

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What principal is owed immediately following sixth payment

CTL (Concrete Testing Lab) borrowed $80,000 for new equipment at 8 percent per year, compounded quarterly. It
is to be paid back over 3 years in equal quarterly payments. For each part below, use both the interest tables and the Excel1 financial functions. Compare answers between the two.

a. How much interest is in the sixth payment?
b. How much principal is in the sixth payment?
c. What principal is owed immediately following the sixth payment?

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Microeconomics: What principal is owed immediately following sixth payment

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Recent Questions Asked Microeconomics

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Microeconomics: What principal is owed immediately following sixth payment

Reference No:- TGS074187

Recent Questions Asked Microeconomics

Q : What is the rate of gross profit on the installment sales

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