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Goods worth $9800 are purchased. If payments of $3800, $400 and $1400 are to be made at the end of 12, 16 and 33 months
Goods worth $9800 are purchased. If payments of $3800, $400 and $1400 are to be made at the end of 12, 16 and 33 months respectively, what deposit will be required at the time of purchase to enable the goods to be fully paid for after the last payment? Interest is at 7.6%p.a. compounding monthly. (answer to nearest whole dollar but don't show $ sign or comma separator eg 280.30)
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