What is the quarterly payment

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Question: On January 1, 2022, Reynoldsburg company purchased equipment from the Mayer's Equipment for $30,000. Mayer's Equipment allows customers to pay in quarterly installments and will defer any payments for 24 months, but interest will accrue quarterly for this time period. Rexnord will make 12 quarterly payments beginning on January 1, 2024. The annual interest rate is 8%. What is the quarterly payment?

Reference no: EM133633803

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