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A company is considering buying a CNC machine. In today's dollars, it is estimated that the maintenance costsfor the machine paid at the end of
A company is considering buying a CNC machine. In today's dollars, it is estimated that the maintenance costsfor the machine paid at the end of each year will be $21,000, $23,000, $26,000, $27,000 and $30,000 for years 1 to 5, respectively The general inflation rate ( f) is estimated to be 7% per year and the company will receive 11% return (interest) per year on its invested funds during the inflationary period. The company wants to pay for maintenance expenses in equivalent equal payments (in actual dollars) at the end of each of the five years. Find the amount of the company's payments The amount of the company's payments is thousand (Round to one decimal place)
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