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Today Donald purchased a cottage and a boat worth a combined present value of $ 3 9 0 0 0 0 . To purchase the

Today Donald purchased a cottage and a boat worth a combined present
value of $390000. To purchase the cottage, Donald agreed to pay $60000
down payment and $2100 at the end of each month for 20 years. To buy the
boat, Donald was required to pay $6000 down payment and R dollars at the
end of each month for 4 years. Determine R if j12=12%

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