An individual buys $15,000 worth of furniture.They make a down payment of $5000 and pay off the rest of their bill with quarterly payments of $R for 10 years.If j4 = 8% and the first quarterly payment is made 3 months after the loan is advanced,what is R?
A) $543.34
B) $365.56
C) $358.39
D) $338.75
Correct Answer:
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