Financing Deals Freight Truck Company offers a truck to your client for $100,000 in exchange for an allment note to be paid with equal quarterly payments over 4 years at a 0.9% (less 1%) annual rate. There is a required $12,000 down payment. Your research indicates the normal borrowing cost for the buyer is 8% annual. Calculate the required payment (88,000) I/Y=0.225% I/Y=2% N=16 6 PMT=5605.78 PMT=5605.78 PV= (76,114)