Question
Bangin Inc. financed the purchase of a machine by making ten annual payments of $28,000 with the first payment due today. The purchase cost of
Bangin Inc. financed the purchase of a machine by making ten annual payments of $28,000 with the first payment due today. The purchase cost of the machine is considered to be the present value of those payments. What was the purchase cost of the machine to Bangin assuming a discount rate of 9%?
| $179,694 | ||
| $118,275 | ||
| $195,867 | ||
| $280,000 |
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Commodity Market Trading And Investment
Authors: Tom James
1st Edition
1137432802, 978-1137432803
