A new piece of equipment is financed with payments of $8750 at the end of each year for 48 months. At 9.5% p.a. compounded semi-annually, what was the cash price of the equipment? Select one: a. $164,353.19 b. $27,901.86 c. $88,923.06 d. $28,039.21

Q: ged 7.5% annual simple intere

A: Originally borrow=$70489.927

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A: Please refer to the image below

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