Dr. Alvano borrowed $8,000 at 8% compounded quarterly to purchase a new X-ray machine for his clinic. The agreement requires quarterly payments of $1,000 (except for a smaller final payment). Prepare the full amortization schedule for the loan. Calculate the total interest charges.

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The Answer of Dr. Alvano borrowed $8,000 at 8% compounded quarterly to purchase a new X-ray machine for his clinic. The agreement requires quarterly payments of $1,000 (except for a smaller final payment). Prepare the full amortization schedule for the loan. Calculate the total interest charges.

Dr Alvano Borrowed $8,000 at 8% Compounded Quarterly to Purchase