Question: Dak, a purchasing manager for a farm co - op , negotiated a deal for some equipment. The farm co - op took out a

Dak, a purchasing manager for a farm co-op, negotiated a deal for some equipment. The farm co-op took
out a loan of $18,000.00, with a $4,000.00 payment due at signing (assume all of this payment applies
towards the loan amount). The remaining will be paid off with quarterly payments for the next 3 years. If
the negotiated interest rate on the debt is 7.6% compounded quarterly. What will the farm co-op's payment
be? If needed, round to 2 decimal places.
a) The quarterly payment would be
Assuming all of the payments were on time and the farm co-op did not prepay on the loan.
What is the total amount the farm co-op paid and the total interest?
b) The total amount the farm co-op paid was $
and the total interest was
--- Need help finding the first part of question b. It isnt 15788.64 as i got.
 Dak, a purchasing manager for a farm co-op, negotiated a deal

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