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A company has just purchased a machine with a cost of $79,994, and signed a note to pay the manufacturer equal semi-annual amounts of $9,378.
A company has just purchased a machine with a cost of $79,994, and signed a note to pay the manufacturer equal semi-annual amounts of $9,378. If the current rate of interest is 6%, how many equal payments will be made?
Select one:
a. 5
b. 6
c. 8
d. 10
e. 12
Please show all work and use Present Value Tables
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