Donnel, a purchasing manager for a farm co-op, negotiated a deal for some equipment. The farm co-op took out a loan of $16,000.00, with a $4,000.00 payment due at signing (assume all of this payment applies towards the loan amount). The remaining will be paid off with quarterly payments for the next 3 years. If the negotiated interest rate on the debt is 9.8% compounded quarterly. What will the farm co-op's payment be? (Round all answers to 2 decimal places.)

Donnel, a purchasing manager for a farm co-op, negotiated a deal for some equipment. The farm co-op took out a loan of $16,000.00, with a $4,000.00 payment due at signing (assume all of this payment applies towards the loan amount). The remaining will be paid off with quarterly payments for the next 3 years. If the negotiated interest rate on the debt is 9.8% compounded quarterly. What will the farm co-op's payment be? (Round all answers to 2 decimal places.) The quarterly payment would be $ Assuming all of the payments were on time and the farm co-op did not prepay on the loan. What is the total amount the farm co-op paid (include amount paid at signing) and the total interest? The total amount the farm co-op paid was $ and the total interest was