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Indigo River Health just bought a new race track. To pay for the race track, the company took out a loan that requires Indigo River Health to pay the bank a special payment of 9,510 dollars in 4 month(s) and also pay the bank regular payments of 4,220 dollars each month forever. The interest rate on the loan is 0.81 percent per month and the first monthly payment of 4,220 dollars will be paid in 1 month. What was the price of the race track?

Financial Management, Finance

  • Category:- Financial Management
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