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A) A student bought furniture worth $1000. Current interest rates are 4%. What is the Equivalent Uniform Annual Worth if the furniture is expected to
A) A student bought furniture worth $1000. Current interest rates are 4%. What is the Equivalent Uniform Annual Worth if the furniture is expected to last 10 years and can be sold for $200?
B) Another student bought the furniture above on a credit card at 18% APR (C.C. that compound daily). They paid off the credit card after 3 years. Now what is the equivalent Uniform Annual cost of the furniture?
Part B is where Im stuck. please show all steps and work :)
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