A company is offered machinery worth $ 400,000 in cash. The company decides to give...
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A company is offered machinery worth $ 400,000 in cash. The company decides to give a down payment of 20% on the cash price and the rest intends to pay it in 2.5 years with monthly payments, the same and starting the following month. The applicable interest rate is 24% compounded monthly. What is the unpaid balance at the end of payment 27?
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