Question: rep Save & EX The McDonald Group purchased a piece of equipment for $12 million. They paid a down payment of 20% in cash and

rep Save & EX The McDonald Group purchased a piece of

rep Save & EX The McDonald Group purchased a piece of equipment for $12 million. They paid a down payment of 20% in cash and financed the balance. The loan terms require monthly payments for 15 years at an annual percentage rate of 775% compounded monthly. What is the amount of each payment? Multiple Choice $9.41367 $9.036 25 $1,000 o $8.978 26 20.20 3.2018 $9.39918

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