Question
It is said that a lump-sum amount of $35,000 at the end of four years is equivalent to an equal-payment series of $5,000 per year
It is said that a lump-sum amount of $35,000 at the end of four years is equivalent to an equal-payment series of $5,000 per year for 6 years, where the first payment occurs at the end of year 1. What earning interest is assumed in this calculation?
Assumed interest rate is = (enter response here) %.
(Round to two decimal places.)
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
14th Edition
978-0132960649, 132960648, 132109174, 978-0132109178
