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ikrabbe ikrabbe
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6 years ago
Judy paid for a living room suite over time, signing an installment contract that requires semi-annual payments of $2560.00 for 8.5 years. The first payment is made on the signing date and interest is 14.5% compounded semi-annually. What was the cash price?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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wrote...
6 years ago
PV (due)   = 2560 (1.0725)
   = 2560(9.5964039)(1.0725)
   = $26 347.89
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