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Hire purchase price of the machine $ 50,000 Down payment Four annual instalments, at the end of each year Rate of interest 5% p.a.
Hire purchase price of the machine $ 50,000 Down payment Four annual instalments, at the end of each year Rate of interest 5% p.a. $ 10,000 $ 10,000 Calculate the cash price of the machine by: (1) Applying the formula and (2) Preparing a table showing the calculations.
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Forensic Accounting and Fraud Examination
Authors: Mary Jo Kranacher, Richard Riley, Joseph T. Wells
1st edition
047043774X, 978-0470437742
