You decide to accept a quote from a store specializing in office remodeling. They offer to pay
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Question:
of $600,000. The estimate as of today's date is $3,600,000.
specialty store applies an interest rate of:
2.5% effective quarterly for year 1.
2% effective quarterly for years 2 and 3.
If the installments to be paid are nominally equivalent, calculate the amount of the installment.
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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