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On 1/1/2 1 , STU Company purchased a machine that sells for $10,000. Not having sufficient cash, STU agreed to make quarterly payments over a
On 1/1/21, STU Company purchased a machine that sells for $10,000. Not having sufficient cash, STU agreed to make quarterly payments over a 3 year period, beginning 3/31/21. The interest rate being charged is 12%. How much is each payment?
a) $833 b) $1,005 c) $1,614 d) $ 975
On 1/1/21, STU Company purchased a machine that sells for $10,000. Not having sufficient cash, STU agreed to make quarterly payments over a 3 year period, beginning 3/31/21. The interest rate being charged is 12%. How much is each payment?
a) $833 b) $1,005 c) $1,614 d) $ 975
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