Question: The problem describes a debt to be amortized. (Round your answers to the nearest cent.) Sean Lee purchases $30,000 worth of supplies for his restaurant
The problem describes a debt to be amortized. (Round your answers to the nearest cent.) Sean Lee purchases $30,000 worth of supplies for his restaurant by making a $4,000 down payment and amortizing the remaining cost with quarterly payments over the next 4 years. The interest rate on the debt is 16% compounded quarterly (a) Find the time of each payment $ 1913,13 X (D) rind me total amount paid for the purchase 342262.00 (c) Find the total interest paid over the life of the loan $ 12262.00 X Need Help? Read
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