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Determine green industries purchased a machine from cyan

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Reference no: EM132461433

Question Problem 1: Green Industries purchased a machine from Cyan Corporation on October 1, 2021. In payment for the $143,000 purchase, Green issued a one-year installment note to be paid in equal monthly payments at the end of each month. The payments include interest at the rate of 12%. Monthly installment payments are closest to: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

Multiple Choice

  1. $11,917.
  2. $17,160.
  3. $12,705.
  4. $13,793.

Reference no: EM132461433

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