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Project: Joe Byrnes is the founder of CorpTech, a startup information technology company located
in Seattle, Washington. Joe has lined up financial backing needed to start CorpTech. The
company is borrowing $550,000 dollars at 4.5% annual interest to be repaid, quarterly, in 5 years.
In addition to the loan, CorpTech is purchasing new equipment. Assist Joe in calculating borrowing
costs by creating a loan schedule and amortization table. Also include the Cumulative Interest and
Principal Payments.

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Project Joe Byrnes is the founder of CorpTech a startup in.pdf

  • 1. Project: Joe Byrnes is the founder of CorpTech, a startup information technology company located in Seattle, Washington. Joe has lined up financial backing needed to start CorpTech. The company is borrowing $550,000 dollars at 4.5% annual interest to be repaid, quarterly, in 5 years. In addition to the loan, CorpTech is purchasing new equipment. Assist Joe in calculating borrowing costs by creating a loan schedule and amortization table. Also include the Cumulative Interest and Principal Payments.