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Problem 1 : City of Budget Rouge ( State of Finansiana ) has purchased a used specialized anti - terror truck. It must pay the
Problem :
City of Budget Rouge State of Finansiana has purchased a used specialized antiterror truck. It must pay the seller $ at the end of each month for the next five years.
Questions:
If Budget Rouge can borrow at annually, what is the effective price paid for the truck in todays dollars?
Calculate the repayment schedule on this loan.
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