Question
New Bread Bakery purchased new equipment by making a down payment of $2000 and agreeing to make payments of $458 at the end of each month for five years. Interest is 9.2% compounded monthly. What was the purchase price of the new equipment? How much interest will have to be paid?
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Answer to a math question New Bread Bakery purchased new equipment by making a down payment of $2000 and agreeing to make payments of $458 at the end of each month for five years. Interest is 9.2% compounded monthly. What was the purchase price of the new equipment? How much interest will have to be paid?
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