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On April 1, Year 1, a new customer purchased a piece of equipment from Thomas...

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Accounting

On April 1, Year 1, a new customer purchased a piece of equipment from Thomas Tech Center by paying $7,000 down and $8,000 at the end of each of the next 15 calendar quarters. What is the purchase price of the machinery if the rate of interest agreed upon was 8% compounded quarterly? Complete the following from the perspective of Thomas Tech Center

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