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You have just purchased a new Mercedes for $65,000. You have made a $12,000 down payment and have signed an installment note for the $53,000.
- You have just purchased a new Mercedes for $65,000. You have made a $12,000 down payment and have signed an installment note for the $53,000. The note has an interest rate of 8 percent and calls for you to make 20 quarterly payments starting three months from today. What will be the amount of each quarterly payment on this loan?
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Cost Accounting Foundations and Evolutions
Authors: Michael R. Kinney, Cecily A. Raiborn
8th Edition
9781439044612, 1439044619, 978-1111626822
