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Buying things on installments
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Dear sir In spite of not having capacity to buy items of household ,by paying in full,I avoid buying them in inslallments as what I understand is that shopkeeper also charge interest . Is this a right practice? And is paying interest as bad as getting it?
Quarterly installments
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Mr. Sullivan is borrowing $2 million to expand his business. The loan will be for ten years at 12% and will be repaid in equal quarterly installments. What will the quarterly payments be?
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