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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 156
Solve the following application problems using the amortization table.
ELECTRONIC EQUIPMENT An engineering firm purchases 7 powerful workstations with special printers for $3500 each. The firm makes a down payment of $10,000 and amortizes the balance with monthly loan payments to Citibank of 11 for 4 years. Prepare an amortization schedule showing the first 5 payments.
ELECTRONIC EQUIPMENT An engineering firm purchases 7 powerful workstations with special printers for $3500 each. The firm makes a down payment of $10,000 and amortizes the balance with monthly loan payments to Citibank of 11 for 4 years. Prepare an amortization schedule showing the first 5 payments.
Explanation
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The total cost is 
, and the down paymen...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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