9. The cash purchase cost of a photocopier is $42,000.You can also finance the purchase with 60...
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9. The cash purchase cost of a photocopier is $42,000.You can also finance the purchase with 60 equal monthly installments at an APR of 6.5% starting one month from today.If after three years the company wishes to sell the photocopier, what is the minimum price for which they can sell the copier so they can pay off balance remaining on the loan?
A) $18,448
B) $19,645
C) $19,842
D) $26,813
E) $17,946
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