BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Your firm intends to finance the purchase of a new construction crane. The cost is $1, 500, 000. What is the size of the first payment if the crane is financed with an interest-only loan at an annual rate of 8.50%?
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$228, 611.56
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$127, 550.00
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$3, 391, 475.16
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$127, 500.00
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Explanation:
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