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A medical testing company has recently purchased several new pieces of testing equipment at a cost of $98,000. They have paid $14,000 up front and
A medical testing company has recently purchased several new pieces of testing equipment at a cost of $98,000. They have paid $14,000 up front and have financed the remaining amount over 6 years at 5.5% annual interest compounded quarterly. They will pay off the debt with quarterly payments over the 6 years. Complete an amortization schedule for the first two payments of the loan. Fill out the amortization schedule below.
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