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A company borrowed at 4.63%compounded semi-annually to purchase​ equipment, agreeing to make payments of ​$2,140 at...

A company borrowed at 4.63%compounded semi-annually to purchase​ equipment, agreeing to make payments of ​$2,140 at the end of every three months for 13 payments.

​(a) What is the equivalent cash price of the​ equipment?

​(b) How much will be owed at the end of two ​years?

​(c) How much of the principal will be repaid within the first two ​years?​

(d) How much interest is paid during the first two ​years?

​(a) The cash price of the equipment is $.

​(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as​ needed.)

​(b) The amount owed at the end of two years is $.

​(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as​ needed.)

​(c) The amount of principal repaid is ​$.

​(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as​ needed.)

​(d) The interest paid is

​$

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jeff jeffy answered 1 year ago
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