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A Company is going to trade-in an old piece of equipment for new equipment. The following is information concerning the purchase List Price: $65,000 Down

A Company is going to trade-in an old piece of equipment for new equipment. The following is information concerning the purchase

List Price: $65,000 Down Payment: $6,000

Term: 5 years Interest Rate: 8%

Payments: Quarterly Trade-in value $10,000

Determine the amount of the quarterly payment.

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