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please explain how to get the selling price On April 1, Year 1, a new customer purchased a piece of equipment from Thomas Tech Center
please explain how to get the selling price
On April 1, Year 1, a new customer purchased a piece of equipment from Thomas Tech Center by paying $7,000 down and $9,000 at the end of each of the next 22 calendar quarters. What is the selling price of the machinery if the rate of interest agreed upon was 20% compounded quarterly? Which of the following financial statement items is impacted in this transaction? Notes Receivable The problem is solving for: Present Value The calculation involves: An Ordinary Annuity EXCEL Excel Formula PV ( Rate Nper Pmt FV Variables PV ( 0.05 22 9000 0 Total 118467 The selling price of the machine isStep by Step Solution
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