P5-5 (similar to) Question Help Present value with periodle rates. Sam Hinds, a local dentist, is going to remodel the dental reception area and add two new workstations. He has contacted A Dec, and the new equipment and cabinetry wil cost $15,000. The purchase will be financed with an interest rate of 10% loan over 8 years. What will Sam have to pay for this equipment the loan calls for quarterly payments (4 per year) and monthly payments (12 per year)? Compare the annual cash outflows of the two payments. Why does the monthly payment plan have less total cash outflow each year? What will Sam have to pay for this equipment if the loan calls for quarterly payments (4 per year? $1(Round to the nearest cent.)