Sam Hinds, a local dentist, is going to remodel the dental reception area and two new workstations. He has contacted A-Dec, and the new equipment and cabinetry will cost dollar 18, 000. A-Dec will finance the equipment purchase at 7.5 percentage over a six-year period of time. What will Hinds have to pay in annual payments for this equipment if the payments are due.
at the end of each year?
at the beginning of each year?