Piece of farm equipment, You want to buy a piece of farm

Piece of farm equipment

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Reference no: EM131302087

You want to buy a piece of farm equipment for $70,000 and the finance office has quoted you a loan with an APR of 6% compounded monthly for 60 months to make the purchase. What will your monthly payments be? What is the effective annual rate on this loan?

Reference no: EM131302087

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