Question: Tan Company purchased a large server for $ 2 4 , 0 0 0 . The company paid 4 0 . 0 0 % of
Tan Company purchased a large server for $ The company paid of the value as a downpayment and received a loan for the balance at compounded monthly. The loan has a term of years and Tan Company has to make monthend payments to settle the loan.
a What is the size of the monthend payments?
Round to the nearest cent
b What was the total amount paid to settle the loan?
Round to the nearest cent
c Calculate the total amount of interest paid throughout the term of the loan.
Round to the nearest cent
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