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(1 point) A factory buys a machine for $22000. They decide to pay 6% down and make payments of $7600 annually. If the interest rate

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(1 point) A factory buys a machine for $22000. They decide to pay 6% down and make payments of $7600 annually. If the interest rate is 11 = 6.1% (a) How many full annual payments of $7600 will the factory make? Answer: (b) Determine the size of the concluding payment if the final payment is a 'drop' payment. Answer: $

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