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A Xerox DocuColor photocopier costing $42,000 is paid off in 60 monthly installments at 6.5% APR.After three years the company wishes to sell the photocopier.What is the minimum price for which they can sell the copier so that they can cover the cost of the balance remaining on the loan?
Undisclosed Principal
A party in a contract whose identity is not revealed to the third party by the agent, allowing the principal to conduct transactions anonymously.
Limited Partners
Investors in a partnership who are not involved in the day-to-day management of the business and whose liability is limited to the amount they have invested.
Insanity
When a person cannot understand the nature or consequences of his acts.
Court Order
A formal declaration made by a court that mandates or forbids certain actions by one or more parties.
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