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A chemical facility is considering purchasing a new compressor. The price of the compressor is $ 1 8 5 0 0 , the sales tax
A chemical facility is considering purchasing a new compressor. The price of the compressor is $ the sales tax is and the anonymous fee costs $ An investor offered to finance of the price of the compressor for months at a nominal interest rate of per year, compounded monthly. A deal is obtained between the investor and facility for the finance of of the price of the compressor.
a How much money does the facility need to pay at the time it purchases the compressor?
b How much is the monthly payment of facility to investor?
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