Price of the machinery that the medical practice can afford

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Reference no: EM131902313

Erick manages a medical practice. The cash budget tells him that he as an excess $750 per month that can go towards a new piece of diagnostic equipment that the doctors would like to buy using a long term note. A call to the equipment company lets Erick know that they will finance 100% of the equipment purchase at a 6% interest and the pay-off must be in 10 years. What is the price of the machinery that the medical practice can afford?

Reference no: EM131902313

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