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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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Accounting
Authors: Charles T. Horngren, Walter T. Harrison Jr., Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood
9th Canadian Edition volume 2
013269008X, 978-0133122855, 133122859, 978-0132690089
