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Hire purchase price of the machine Down payment Four annual instalments, at the end of each year Rate of interest 5% p.a. Calculate the cash

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Hire purchase price of the machine Down payment Four annual instalments, at the end of each year Rate of interest 5% p.a. Calculate the cash price of the machine by: (1) Applying the formula and (2) Preparing a table showing the calculations. $ 50,000 $ 10,000 $ 10,000

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