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44. (-/0.09 Points) DETAILS HARMATHAP12 6.5.018. MY NOTES The problem describes a debt to be amortized (Round your answe
Posted: Tue Nov 16, 2021 7:02 am
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- 44 0 09 Points Details Harmathap12 6 5 018 My Notes The Problem Describes A Debt To Be Amortized Round Your Answe 1 (23.1 KiB) Viewed 102 times
44. (-/0.09 Points) DETAILS HARMATHAP12 6.5.018. MY NOTES The problem describes a debt to be amortized (Round your answers to the nearest cent.) Sean Lee purchases $40,000 worth of supplies for his restaurant by making a $3,000 down payment and amortizing the remaining cost with quarterly payments over the next 5 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. $ Need Help? Radi