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A contracting firm needs to upgrade its equipment. The firm estimates that the maximum repayment it can afford to make is $8000 per year. How
A contracting firm needs to upgrade its equipment. The firm estimates that the maximum repayment it can afford to make is $8000 per year. How much can they afford to borrow if? a) Loan money is available at 15 percent for 15 years? b) Loan money is available at 7 percent for 15 years
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