Compare the annual cash outflows of the two payments

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Reference no: EM131459855

Sam? Hinds, a local? dentist, is going to remodel the dental reception area and add two new workstations. He has contacted? A-Dec, and the new equipment and cabinetry will cost ?$16 comma 00016,000. The purchase will be financed with an interest rate of 9.59.5?% loan over 55 years. What will Sam have to pay for this equipment if the loan calls for quarterlyquarterly payments ?(44 per? year) and weeklyweekly payments ?(5252 per? year)? Compare the annual cash outflows of the two payments. Why does the weeklyweekly payment plan have less total cash outflow each? year?

Reference no: EM131459855

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