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A company borrows $1,380,000 to purchase machinery and equipment. They will finance the total amount with a twenty year loan, 6,40% annual interest rate, and
A company borrows $1,380,000 to purchase machinery and equipment. They will finance the total amount with a twenty year loan, 6,40% annual interest rate, and quarterly payments. Each loan payment will be in the amount of: O a. 31,244.16 Ob. 29,736.69 oc. 28,315.57 Od. 30,703.71
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