Question: please answer the question The McDonald Group purchased a piece of equipment for $1.2 million. They paid a down payment of 20% in cash and

please answer the question The McDonald Group purchased a piece of

please answer the question

The McDonald Group purchased a piece of equipment for $1.2 million. They paid a down payment of 20% in cash and financed the balance. The loan terms require monthly payments at the end of each month for 15 years at an annual percentage rate of 7.75% compounded monthly. What is the amount of each payment? Select one: e a. $9,399.18 e b. $9,413.67 c. $9,036.25 , d. $8,978.26 , e e. $7,440.01

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