Question
Bramble Corporation purchased a special tractor on December 31, 2017. The purchase agreement stipulated that Bramble should pay $19,090 at the time of purchase and
Bramble Corporation purchased a special tractor on December 31, 2017. The purchase agreement stipulated that Bramble should pay $19,090 at the time of purchase and $4,830 at the end of each of the next 8 years. The tractor should be recorded on December 31, 2017, at what amount, assuming an appropriate interest rate of 12%? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Cost of tractor to be recorded $Entry field with incorrect answer now contains modified data LINK TO TEXT LINK TO TEXT Incorrect answer. Your answer is incorrect. Try again. Bramble Corporation wants to withdraw $127,070 (including principal) from an investment fund at the end of each year for 9 years. What should be the required initial investment at the beginning of the first year if the fund earns 11%? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Required initial investment $Entry field with incorrect answer now contains modified data Click if you would like to Show Work for this question: Open Show Work
Bramble Corporation purchased a special tractor on December 31, 2017. The purchase agreement stipulated that Bramble should pay $19,090 at the time of purchase and $4,830 at the end of each of the next 8 years. The tractor should be recorded on December 31, 2017, at what amount, assuming an appropriate interest rate of 12%? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Cost of tractor to be recorded LINK TO TEXT LINK TO TEXT Bramble Corporation wants to withdraw $127,070 (including principal) from an investment fund at the end of each year for 9 years. What should be the required initial investment at the beginning of the first year if the fund earns 11%? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Required initial investment Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXTStep by Step Solution
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