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What price will a finance company pay to a merchant for a conditional sale contract that requires twenty-four monthly payments of $734 beginning in three

What price will a finance company pay to a merchant for a conditional sale contract that requires twenty-four monthly payments of $734 beginning in three months? The finance company requires a rate of return of 16% compounded monthly.

Select one:

a. $14,598.98

b. $15,498.98

c. $14,934.98

d. $14,164.98

e. $16,598.98

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