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Answer to Question #295444 in Financial Math for Ella

Question #295444

A buyer and a seller agreed following about the price of an earth mover: The buyer pays

  • 13215 € after 4 months and
  • 71709 € after 8 months

Calculate the price of an earth mover, when the whole purchase price is paid after 6 months from the purchase moment. Use annual interest rate of 3.8 %


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