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Suppose a Woman Purchases a Building with an Initial Down

Question 153

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Suppose a woman purchases a building with an initial down payment of $40,000,and then makes monthly payments: $1500 at the end of each month for four years and $2000 at the end of each month for six more years.Given an interest rate of 5.5% compounded monthly,find the present value of the payments and the list price of the building.(Round your answer to the nearest dollar.)

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