Sean Lee purchases $30,000 worth of supplies for his restaurant by making a $4,000 down payment and amortizing the remaining cost with quarterly payments over the next 6 years. The interest rate on the debt is 16% compounded quarterly. (a) Find the size of each payment. $  (b) Find the total amount paid for the purchase. $  (c) Find the total interest paid over the life of the loan. $

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Calculating the Return On A Loan