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1. The Hass Machinery Company has told you that they will sell you a CNC HMC (horizontal machining center) under one of two different plans:

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1. The Hass Machinery Company has told you that they will sell you a CNC HMC (horizontal machining center) under one of two different plans: Plan 1: Pay Hass $150,000 in five years from now. Plan 2: Pay Hass $P today. Assume the interest rate for you to borrow money is 10%. What is the value of $P that would be equivalent to the cost of Plan 1? Draw a CFD and complete the required format below. Use the tables. Given: Find: Formula: Solution/

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