Green Industries purchased a machine from Cyan Corporation on October 1, 2018. In payment for the $144,000 purchase, Green issued a one-year installment note to be paid in equal monthly payments at the end of each month. The payments include interest at the rate of 12%. Monthly installment payments are closest to:
A) $12,000.
B) $12,445.
C) $12,668.
D) $12,794.
Correct Answer:
Verified
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