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Green Industries purchased a machine from Cyan Corporation on October 1, 2024. In payment for the $146,000 purchase, Green issued a one-year installment note to
Green Industries purchased a machine from Cyan Corporation on October 1, 2024. In payment for the $146,000 purchase, Green issued a one-year installment note to be paid in equal monthly payments at the end of each month. The payments include interest at the rate of 18%. Monthly installment payments are closest to:
Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)
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