A company borrowed at 7.21% compounded annually to purchase equipment, agreeing to make payments of $2,020 at the end of every three months for 16 payments, (a) What is the equivalent cash price of...

Extracted text: A company borrowed at 7.21% compounded annually to purchase equipment, agreeing to make payments of $2,020 at the end of every three months for 16 payments, (a) What is the equivalent cash price of the equipment? (b) How much will be owed at the end of two years? (c) How much of the principal will be repaid within the first two years? (d) How much interest is paid during the first two years? (0 (a) The cash price of the equipment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) er