Answered

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To purchase $14,900 worth of machinery for his business, Jose made a down payment of $1600 and took out a business loan for the rest. After 2 years of paying monthly payments of $589.47, he finally paid off the loan.
(A) What was the total amount Jose ended up paying for the machinery (including the down payment and monthly payments)?
(B) How much interest did Jose pay on the loan?

Sagot :

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