Collier Publications Inc. purchases a forklift for use in its warehouse for 43 000 on 1 January
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Collier Publications Inc. purchases a forklift for use in its warehouse for €43 000 on 1 January 2009. The company has agreed to pay the seller in equal monthly instalments over three years The seller charges 8% interest on the loan, which reflects the current market interest rate. How much is each annual payment?
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