Question
Sean Lee purchases $20,000 worth of supplies for his restaurant by making a $4,000 down payment and amortizing the remaining cost with quarterly payments over
Sean Lee purchases $20,000 worth of supplies for his restaurant by making a $4,000 down payment and amortizing the remaining cost with quarterly payments over the next 7 years. The interest rate on the debt is 16% compounded quarterly.
(a)Find the size of each payment. (b)Find the total amount paid for the purchase. (c)Find the total interest paid over the life of the loan.
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Graphical Analysis Of Multi-Response Data
Authors: Kaye Enid Basford, John Wilder Tukey
1st Edition
100072302X, 9781000723021
