The owner of a manufacturing plant borrows

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Reference no: EM131011700

The owner of a manufacturing plant borrows $200,000 to buy new robotic equipment for the plant. The loan is to be repaid over 16 years in equal quarterly payments at 4% annual interest with no payments for the first year (interest does accrue the first year). How much will the owner's quarterly payments be? Express your answer in $ to the nearest $10.

Reference no: EM131011700

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