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Page 365 /#10 An industrial warehouse was purchased for $10,000 down and monthly payments of $800 for 4 years. a. What is the total cost

Page 365 /#10

An industrial warehouse was purchased for $10,000 down and monthly payments of $800 for 4 years.

a. What is the total cost to the buyer?

b. If money is worth 9% compounded monthly, what is the cash equivalent price?

Please show your step by step solution.

Thank you.

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