Present value with periodic 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 will cost $15,000. The purchase will be financed with an interest rate of 8% loan over 9 years. What wil Sam have to pay for this equipment if the laan cals fo semiannual payments (2 per year) and weekly payments (52 per year)? Compare the annual cash outhows of the two payments. Why does the weekly payment plan have less total eas oution each year? What wiil Sam have to pay for this ecuipment in the loan calis for semiarnual payments (2 per year)? (Round to the nearest cent.)