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Green Industries Purchased a Machine from Cyan Corporation on October

Question 70

Multiple Choice

Green Industries purchased a machine from Cyan Corporation on October 1,2016.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:

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