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Find what was the cash price of the equipment

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Reference no: EM132740541

Problem 1: A new piece of equipment is financed with end-of-month payments of $1250 for 7 years. At 4.05% p.a. compounded annually, what was the cash price of the equipment?

Select one:

a. $92520.86
b. $91295.29
c. $91520.86
d. $45 472.74

Reference no: EM132740541

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