Sean Lee purchases 20 000 worth of supplies for his

Last updated: 10/28/2023

Sean Lee purchases 20 000 worth of supplies for his restaurant by making a 3 000 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 what is the size of each payment what is the total amount paid for the purchase what is the total interest paid over the life of the loan