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Ann is willing to pay $225 a month for 5 years for an equipment payment. If the interest rate is 9%, compounded monthly, and she

image text in transcribed Ann is willing to pay $225 a month for 5 years for an equipment payment. If the interest rate is 9%, compounded monthly, and she has a cash down payment of $4,000, what price equipment can she afford to purchase? a. $10,839 b. $6,839.00 c. $4,875.17 d. $14,839.00 e. $10,502.06

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