Calvin Jones bought his neighbours farm for $10 000 down and payments of $5000 at the end

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Calvin Jones bought his neighbour’s farm for $10 000 down and payments of $5000 at the end of every 3 months for 10 years. If the payments are deferred for 2 years and interest is 8% compounded quarterly, what was the purchase price of the farm?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 04:04 AM

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Calvin Jones bought his neighbours farm for $10 000 down and payments of $5000 at the end

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PMT 500000 i 2 n 40 d 8 PVndefer 136 7773962l02 8 136 77739620853490 116 73819 Purchase price 10 00000 116 73819 126 73819 Set PY 4 CY 4 0 FV 5000 PMT 8 IY 40 N CPT PV 136 7773962 ...View the full answer

Contemporary Business Mathematics with Canadian Applications

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