Sue wants to buy a car that costs 20000 she has arranged to, Financial Management

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Sue wants to buy a car that costs 20000 she has arranged to

Sue wants to buy a car that costs $20,000. She has arranged to borrow the total purchase price of the car from her credit union at a simple interest rate equal to 12 percent. The loan requires quarterly payments for a period of five years. If the first payment is due in three months (one quarter) after purchasing the car, what will be the amount of Sue's quarterly payments on the loan?

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Financial Management: Sue wants to buy a car that costs 20000 she has arranged to

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