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Mr. Montiel acquires a condominium office on credit that costs $ 185,000. He pays a 30% down payment and agrees to pay the balance through
Mr. Montiel acquires a condominium office on credit that costs $ 185,000. He pays a 30% down payment and agrees to pay the balance through monthly advance payments (annuities due) for 3 years. If the interest rate you pay is 14% per annum convertible monthly, what amount would you have to pay at the end of the thirtieth month to acquire all the rights to the office?
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