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Joe and his partners have contracted to purchase the franchise rights, worth $66,000, to open and operate a specialty pizza restaurant called Pepperoni's. With a renewable agreement, the partners have agreed to make payments at the beginning of every three months for two years. To accommodate the renovation period, Pepperoni's corporate office has agreed to allow the payments to start in one year, with interest at 9.84% compounded annually. What is the amount of each payment? The amount of each payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Joe and his partners have contracted to purchase the franchise rights, worth $66,000, to open and operate a specialty pizza restaurant called Pepperoni's. With a renewable agreement, the partners have agreed to make payments at the beginning of every three months for two years. To accommodate the renovation period, Pepperoni's corporate office has agreed to allow the payments to start in one year, with interest at 9.84% compounded annually. What is the amount of each payment? The amount of each payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Joe and his partners have contracted to purchase the franchise rights, worth $66,000, to open and operate a specialty pizza restaurant called Pepperoni's. With a renewable agreement, the partners have agreed to make payments at the beginning of every three months for two years. To accommodate the renovation period, Pepperoni's corporate office has agreed to allow the payments to start in one year, with interest at 9.84% compounded annually. What is the amount of each payment? www The amount of each payment is s (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Transcribed Image Text:Joe and his partners have contracted to purchase the franchise rights, worth $66,000, to open and operate a specialty pizza restaurant called Pepperoni's. With a renewable agreement, the partners have agreed to make payments at the beginning of every three months for two years. To accommodate the renovation period, Pepperoni's corporate office has agreed to allow the payments to start in one year, with interest at 9.84% compounded annually. What is the amount of each payment? www The amount of each payment is s (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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