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Jill purchases a new automobile that cost $ 1 4 , 0 0 0 . She receives a $ 4 , 0 0 0 trade

Jill purchases a new automobile that cost $14,000. She receives a $4,000 trade-in allowance for her old auto and signs a $10,000 note with a market rate of 8%. The note requires eight equal quarterly payments starting at the end of the first quarter from date of purchase. What is the amount of each payment?

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