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Suppose you want to finance new machinery for your company. The equipment has a purchase price of $38,500 at an interest rate of 7.5% over

Suppose you want to finance new machinery for your company. The equipment has a purchase price of $38,500 at an interest rate of 7.5% over 7 years. Create an Amortization table and answer the following 5 questions.

What will your annual payment be?

		$8.432.58
		$7,268.81
		$4,381.31
		$6,758.25

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