Equipment priced at $42 000 was purchased on a contract requiring payments of $5000 at the beginning

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Equipment priced at $42 000 was purchased on a contract requiring payments of $5000 at the beginning of every six months. If interest is 9% compounded quarterly, what is the size of the final payment?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 04:10 AM

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Equipment priced at $42 000 was purchased on a contract requiring payments of $5000 at the beginning

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END mode PY 2 CY 4 9 IY 42 000 PV 5000 PMT 0 FV CPT ...View the full answer

Contemporary Business Mathematics with Canadian Applications

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