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A company purchases a small office building as its new headquarters. The building cost $ 7 5 8 , 0 0 0 . To purchase
A company purchases a small office building as its new headquarters. The building cost $ To purchase the building, the
company issues a year installment note with interest. The company is considering two options:
a Pay $ down and make monthly payments of $ over years.
b Pay $ down and make payments of $ over years.
For each option, determine the total cash paid for the building over years, including the down payment, and total interest paid
over years. Do not round your intermediate calculations. Round your answers to decimal places.
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