Sam hinds, a local dentist is going to remodel the dental reception area and two new workstations. he has contacted A-Dec, and the new equipment and cabinetry will cost $22,000. The purchas will be financed with a(n) 7.5% loan over 9 years. What will Same have to pay for this quipment if the loan calls for quarterly payments (4 per year) and weekly payments (52 per year)? Compare the annual cash outflow of the two payment. Why does the weekly 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)?