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An $82,000 business can be purchased by making a down payment of $17,000 and financing the balance with a short-term business
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Answer #1

Loan amount = Present value of future monthly payments = monthly payment * [1-(1+i)^-n]/i

i = interest rate per period

n = number of periods

=>

1745 * [1-(1+0.03/12)^-n]/(0.03/12) = 82000-17000

=>

number of periods n = 39.15 periods

= 3 years + 3 months

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