Question
Bramble Corp. financed the purchase of a machine by making payments of $24000 at the end of each of five years. The appropriate rate of
Bramble Corp. financed the purchase of a machine by making payments of $24000 at the end of each of five years. The appropriate rate of interest was 9%. The future value of one for five periods at 9% is 1.53862. The future value of an ordinary annuity for five periods at 9% is 5.98471. The present value of an ordinary annuity for five periods at 9% is 3.88965. What was the cost of the machine to Bramble?
Bramble Corp. financed the purchase of a machine by making payments of $24000 at the end of each of five years. The appropriate rate of interest was 9%. The future value of one for five periods at 9% is 1.53862. The future value of an ordinary annuity for five periods at 9% is 5.98471. The present value of an ordinary annuity for five periods at 9% is 3.88965. What was the cost of the machine to Bramble?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Family Child Care Audit Manual Strategies For Protecting Your Business In An IRS Audit RedLeaf Business Series
Authors: Tom Copeland
1st Edition
1929610211, 978-1929610211
