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 andcabinetry will cost $$15,000.$The purchase will be financed with an interest rate of $10\%$ loan over $6$ years. What will Sam have to pay for this equipment if the loan calls for semiannual payments $(2$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?