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You borrow $34,000 to purchase a plane. The loan will be paid in monthly installments over one year at 24% interest annually. The first
You borrow $34,000 to purchase a plane. The loan will be paid in monthly installments over one year at 24% interest annually. The first payment is due one month from today. What is the amount of each monthly payment? (EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Multiple Choice None of these answer choices are correct. $2,645 $2,833. $3,215.
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