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Henrie purchased a stereo from his cousin. Henrie will pay $250 per year for 4...

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Accounting

Henrie purchased a stereo from his cousin. Henrie will pay $250 per year for 4 years.

If Henrie''s payments include interest at 9%, what was the purchase price of the stereo?

Choose the closest answer.

a.

$1,143
b.

$1,000
c.

$810
d.

$910
e.

$870

Answer & Explanation Solved by verified expert
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