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    PV of Annuity

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    A steel fabrication company invested $800,000 in a new shearing unit. At an interest rate of 12% per year, compounded monthly, the monthly income required to recover The investment in 3 years is closest to?

    A. $221,930
    B. $31,240
    C. $29,160
    D. $26,570

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    Solution Summary

    This explains the calculation of the capital recovery of annuity.