Aggie Company is going to trade-in an old piece of equipment for new equipment.
The following is information concerning the purchase:
List Price: $65,000
Down Payment: $6,000
Term: 5 years Interest Rate: 8%
Payments: Quarterly
Trade-in value $10,000
Determine the amount of the quarterly payment. Select one:
a. 6,595
b. 12,271
c. 2,997
d. 3,608
e. 10,397
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Home » Business » Aggie Company is going to trade-in an old piece of equipment for new equipment. The following is information concerning the purchase: List Price: $65,000 Down Payment: $6,000 Term: 5 years Interest Rate: 8% Payments: Quarterly Trade-in value $10,000