Question
Lucky Ltd. sells an asset with a $1 million fair value to Sorry Inc. Sorry agrees to make 6 equal payments, one year apart, commencing
Lucky Ltd. sells an asset with a $1 million fair value to Sorry Inc. Sorry agrees to make 6 equal payments, one year apart, commencing on the date of sale. The payments include principal and 6% annual interest. Compute the annual payments.
The answer is $191,852.
Please show me how.
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Auditing Integrated Concepts And Procedures
Authors: Donald H. Taylor, G. William Glezen
5th Edition
0471524239, 978-0471524236
