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Platinum Water Banking just bought a new apple orchard. To pay for the apple orchard, the company took out a loan that requires Platinum Water Banking to pay the bank a special payment of 13,160 dollars in 4 month(s) and also pay the bank regular payments of 1,470 dollars each month forever. The interest rate on the loan is 0.94 percent per month and the first monthly payment of 1,470 dollars will be paid in 1 month. What was the price of the apple orchard?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92800760

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