What was the price of the medical clinic

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Platinum Water Technology just bought a new medical clinic. To pay for the medical clinic, the company took out a loan that requires Platinum Water Technology to pay the bank a special payment of 14,970 dollars in 5 month(s) and also pay the bank regular payments of 2,770 dollars each month forever. The interest rate on the loan is 1.67 percent per month and the first monthly payment of 2,770 dollars will be paid in 1 month. What was the price of the medical clinic?

Reference no: EM132465454

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