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1. A manager is planning to purchase a machine by paying $7,000 now and equal monthly payments for one and a half year. If the

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1. A manager is planning to purchase a machine by paying $7,000 now and equal monthly payments for one and a half year. If the present worth of the machine, at the interest rate of 6% per year compounded monthly, is $32,000, the monthly payments are closest to: $1,815 A $1,820.B $1,420.CO $1,390 .DO

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