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Business, 23.04.2020 17:13 carson5238

Equipment is being financed for 10 years by an XYZ corp. With monthly payments. The arrangement with the vendor worked out is as below The interest rate is 3/4 % per month for the first 48 payments and for the remainder of the loan the interest rate would be 1% per month. The equipment cost $500,000. What is the monthly payment for the first 48 months?

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