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Cameron Corp. is purchasing new equipment with a cash cost of $300,000 for an assembly...

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Accounting

Cameron Corp. is purchasing new equipment with a cash cost of $300,000 for an assembly line. The manufacturer has offered to accept $68,900 payments at the end of each of the next six years. What is the total amount of interest that will Cameron Corp. pay over the term of the loan?

$300,000

$68,900

$113,400

$413,400

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