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Present value with periodic rates

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Present value with periodic rates.

Cooley Landscaping needs to borrow ?$28,000 for a new? front-end dirt loader. The bank is willing to loan the money at 8.5?% interest for the next 6 years with annual?, semiannual?, quarterly?, or monthly payments. What are the different payments that Cooley Landscaping could choose for these different payment? plans?

Reference no: EM132666174

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