Clara purchased a machine for $14,000. She paid 15% of the purchase price as a down payment

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Clara purchased a machine for $14,000. She paid 15% of the purchase price as a down payment and financed the balance at 4.25% compounded daily. If she paid $500 at the end of every month, how long did it take to settle the loan?

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Mathematics Of Business And Finance

ISBN: 9781927737545

4th Edition

Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans

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