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Jasmine purchased a machine for $350,000. She paid 20% of the value as a down...

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Finance

Jasmine purchased a machine for $350,000. She paid 20% of the value as a down payment and received a loan for the balance at 7.65% compounded semi-annually. She had to make payments of $4,420.75 at the end of every month to settle the loan. a. How many payments were made? A full solution for the number of payments should be shown. Submit your solution. payments Round up to the next payment period. b. Fill in the partial amortization schedule for the first two payments, the last two payments, including the previous principal balance, and all totals. No work needs to be shown. Enter the values directly into the schedule. Payment Number Payment Interest Portion Principal Portion Principal Balance 0 1 2 : : : : : : : : : : : : : : : : : : : : _ 0.00 Totals -- c. What was the total interest paid (cost of financing)? No work needs to be shown. Enter the values directly for the total interest paid.

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