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An individual wishes to purchase s new piece of machinery by making four animal payments, such that each of the last two payments is twice

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An individual wishes to purchase s new piece of machinery by making four animal payments, such that each of the last two payments is twice the amount of each of the first two payments. Determine the economic fair value of the first payment, if the item has a present advertised price of dollor4,000, and assuming an interest rate of 12%

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