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Decision making: Deal 1: An item can be purchased for $7000. Deal 2: The same item can be purchased for $2100.00 down and $87.50 at

Decision making: Deal 1: An item can be purchased for $7000. Deal 2: The same item can be purchased for $2100.00 down and $87.50 at the end of each month for 6 years. If money is worth 12.25% compounded monthly to you... a. ...which is the better deal now?Enter as 1 or 2. Deal 2 b. By how much now?

Answers I have tried that are incorrect: 3206.43, 943.21, 5306.43, 1400.

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