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A new oven will save $80 per year in electricity expense. How much can we afford to pay for this oven if it is expected

image text in transcribed A new oven will save $80 per year in electricity expense. How much can we afford to pay for this oven if it is expected to last 16 years? The interest rate is 13% per year. Click the icon to view the interest and annuity table for discrete compounding when /- 13% per year The affordable amount of payment is (Round to the nearest dollar)

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