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Anthony secured a lease on a machine by paying $ 1 , 4 5 0 as a down payment and then $ 3 0 0
Anthony secured a lease on a machine by paying $ as a down payment and then $ at the beginning of every halfyear for years. Assume that the cost of financing is compounded semiannually. a What was the principal amount of the loan? b What was the cost of the machine? c What was the amount of interest paid over the term?
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