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= Lakers Industries purchased a machine from Clippers Corporation on October 1, 2021. In payment for the $142,000 purchase, Lakers issued a one-year installment note
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Lakers Industries purchased a machine from Clippers Corporation on October 1, 2021. In payment for the $142,000 purchase, Lakers 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: (FV of $1, PV of $1 , FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Multiple Choice $13,019. $25,560. $14,100. $11,833.
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