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solve all the poitns SUBJECT: Financial Mathematics 1) Solve, Step by Step a) A delivery van is purchased for a value of $ 180,000.00 and
solve all the poitns SUBJECT: Financial Mathematics 1) Solve, Step by Step a) A delivery van is purchased for a value of $ 180,000.00 and agrees with the distributor, to pay 20% in cash and the rest is paid in 60 equal monthly installments, the first of which expires one month after the signing of the purchase-sale agreement. What is the amount of each of the payments if the interest rate charged by the distributor is 24% per year with monthly compounding. b) If a monthly payment of $ 35,000 is agreed for 60 months, and there is a 24% annual effective rate with how much it could pay the debt in cash so as not to have to do it monthly
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