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Question 3: On 1 February, the Miro Company needs to buy some office equipment. The company is short of cash and expects to be short
Question 3: On 1 February, the Miro Company needs to buy some office equipment. The company is short of cash and expects to be short for several months. The company treasurer has said that he could pay for the equipment as follows: Date Payment 1 Apr $150 1 June 300 1 Aug 450 1 Oct 600 1 Dec 750 A local ofce supply firm will agree to sell the equipment to the rm now and accept payment according to the treasurer's schedule. If interest is charged at 5% every two months, with compounding once every two months, how much ofce equipment can the Miro Company buy now
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