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On July 1, 2017 a company buys a delivery truck for $100,000 by taking out a note payable at 6% interest per year. The note
On July 1, 2017 a company buys a delivery truck for $100,000 by taking out a note payable at 6% interest per year. The note will be paid back with monthly payments over a six year period. The first monthly payment of $1,660 will be made on July 31, 2017.
How much total cash will the company pay for the delivery truck over the life of the loan?
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