The university spirit organization needs to buy a new trailer in which to haul the team...
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The university spirit organization needs to buy a new trailer in which to haul the team mascot to the football games. A dealer in Jonesboro has agreed to the following terms: $1,000 down plus 20 monthly payments of $500 at the end of each month. The local rate available for borrowing for the organization is 12% per year. What is the sale price of the trailer? The university spirit organization needs to buy a new trailer in which to haul the team mascot to the football games. A dealer in Jonesboro has agreed to the following terms: $1,000 down plus 20 monthly payments of $500 at the end of each month. The local rate available for borrowing for the organization is 12% per year. What is the sale price of the trailer?
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