Anthony purchased a machine for $27,000 for her company. She paid 5.00% of this amount as a down payment and financed the rest at 6.02% compounded monthly. She paid $1,125 at the end of every month to...


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Anthony purchased a machine for $27,000 for her company. She paid 5.00% of this<br>amount as a down payment and financed the rest at 6.02% compounded monthly. She<br>paid $1,125 at the end of every month to settle the loan.<br>a. What was the principal portion of payment number 4?<br>Round to the nearest cent<br>b. What was the interest portion of payment number 4?<br>Round to the nearest cent<br>

Extracted text: Anthony purchased a machine for $27,000 for her company. She paid 5.00% of this amount as a down payment and financed the rest at 6.02% compounded monthly. She paid $1,125 at the end of every month to settle the loan. a. What was the principal portion of payment number 4? Round to the nearest cent b. What was the interest portion of payment number 4? Round to the nearest cent

Jun 09, 2022
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