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Cheng Corp. purchased equipment with a cash cost of $500000. The seller has offered to...

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Accounting

Cheng Corp. purchased equipment with a cash cost of $500000. The seller has offered to accept $95500 payments at the end of each of the next seven years. What is the total amount of interest that will Cheng pay over the term of the loan?
$904500
$668500
$168500
$500000
Attempts: 0 of 1 used
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