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Patrick purchased a machine for $23,000 for his company. He paid 5.00% of this amount...

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Finance

Patrick purchased a machine for $23,000 for his company. He paid 5.00% of this amount as a down payment and financed the rest at 4.92% compounded monthly. He paid $1,125 at the end of every month to settle the loan.

a. What was the principal portion of payment number 4?

b. What was the interest portion of payment number 4?

Round to the nearest cent

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