Candy purchases a new guitar costing $5,500. She put down 15% and finance the rest for 3 years through the store. The store will charge her 10% per year compounded quarterly.

Identify the type of problem.

Present Value with compound interest

Future V alue of an Annuity

Present V alue of an Annuity

Amortization

Sinking Fund

What are her quarterly payments? a. $469.67

b. $502.35 c. $455.75 d. $406.60 e. $488.80