New Body, a gym, bought new exercise equipment on credit. The purchase price was $10,438.88....
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Accounting
New Body, a gym, bought new exercise equipment on credit. The purchase price was $10,438.88. They secure the loan with a financing company that charges 6.25% per year compounded quarterly for 6 years. How much are their quarterly payments?
Present Value with compound interest
Future V alue of an Annuity
Present V alue of an Annuity
Amortization
Sinking Fund
a. $578.41
b. $524.94 c. $503.78 d. $612.94 e. $486.78
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