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How much principal repayment paid in ninth payment period

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Ruby bakeshop obtains a loan of 500,000, with interest at 8% compounded quarterly, for the construction of a new branch in Angeles city. The owner will repay the loan by payments made quarterly for 2 1/2 years. Create an amortization schedule to answer the following questions:

Problem A. How much is the interest paid in the 5th payments?

Problem B. How much is the total interest?

Problem C. How much is the present outstanding balance on the 7th payment period?

Problem D. How much principal repayment paid in the 9th payment period?

Problem E. Find the quarterly payment.

Reference no: EM132818259

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