How Much Does a Printer or Office Copy Machine Cost?
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A school realizes that they need a new copy machine for their main office. The copy machine costs 4,500. After speaking with the financial advisor, they decide to pay 1/9 of the cost of the machine in cash and finance the rest through their credit union. How much is their monthly payment if the credit union will charge 4% per year compounded monthly for 2 years?
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