Mako signs an agreement to buy a boat that requires payment, Ask an Expert

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Mako signs an agreement to buy a boat that requires payment (principal and interest) of $4612 at the end of each year for 3 years. The boat dealer used 10% as the interest rate to determine the payments. What should Mako consider to be the purchase price of the boat? (Round your answer to the nearest dollar)

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Financial Management, Finance

Category:- Financial Management
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