sarahsavois7531 sarahsavois7531

13-03-2024
Business

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Falco Inc. financed the purchase of a machine with a loan at 4.37% compounded monthly. If payments of $9,300 are made at the end of every month for 8 years, what was the principal amount of the loan?
a. $650,000
b. $640,000
c. $630,000
d. $620,000

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