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What is the size of each monthly ?payment

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Mary Machine Shop purchased a computer to use in tuning engines. To finance the?purchase, the company borrowed $14,200 at 12% compounded annually. To repay the? loan, equal monthly payments are made over four ?years, with the first payment due two years after the date of the loan. What is the size of each monthly ?payment?

 

 

Reference no: EM132971711

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