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A machine has a list price of $150,000 and comes with a rebate of $10,000. The machine can be financed at a 3% annual interest
A machine has a list price of $150,000 and comes with a rebate of $10,000. The machine can be financed at a 3% annual interest rate with monthly payments and compounding over 36 months. Assume that the annual market interest rate is 8%. Find the present value of your contractual cash flow if you purchase and finance the machine under these terms.
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