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2- No Explanations Required in the solution.

Three purchase plans are available for a new renewable energy system.

Plan A: $5,000 cash immediately

Plan B: $1,500 down and 36monthly payments of $116.25

Plan C: $1,000 down and 48 monthly payments of $120.50

If a customer expects to keep the system five years and his cost of money is ? compounded monthly, which payment plan should he choose?The interest rate, i,for each student is given in the data sheet. ( i = 24%)

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