Sarasota Corp. purchased a new blending machine for $3,150.03. It paid $570.27 down and financed the remaining

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Sarasota Corp. purchased a new blending machine for $3,150.03. It paid $570.27 down and financed the remaining $2,579.76. It is required to pay 6 annual payments at the end of each year at an annual rate of interest of 7%.

What is the amount of the annual payment? (Round answer to 2 decimal places, e.g. 15.25.)

Related Book For answer-question

Accounting Tools for Business Decision Making

ISBN: 978-1118096895

6th edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Posted Date: Mar 16, 2024 01:22 AM

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Sarasota Corp. purchased a new blending machine for $3,150.03. It paid $570.27 down and financed the remaining

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Accounting Tools for Business Decision Making

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