What will be the amount of sue quarterly payments

Reference no: EM13293310

Sue wants to buy a car that costs $12,000. She has arranged to borrow the total purchase price of the car from her credit union at a simple interest rate equal to 12%. The loan requires quarterly payments for a period of 3 years. If the 1st payments is due 3 months after buying the car, what will be the amount of Sue's quarterly payments on the loan?

Reference no: EM13293310

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