3 Note with unreasonable terms (funny money) Company D purchased a truck for an agreed price of $40,000 on January 1, 2010, paid $5,000 down and financed the balance with the dealer at an annual interest rate of .9%. Payments were due each quarter end, for 12 quarters, starting March 31, 2010. It is clear that the truck could have been purchased for $37,000 cash. Calculate the required payment under the note signed. Calculate the effective interest rate, as implied by the cash price of the truck. Make the entry to record the purchase of the truck