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Please solve all of the problems with detailed work. Thanks Solve the following problems and show all your works. Ross Machine Company in Smithville, Tennessee

Please solve all of the problems with detailed work. Thanks

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Solve the following problems and show all your works. Ross Machine Company in Smithville, Tennessee is considering buying a "CNC Machining Center" for its machining department. The cost of the machine is $60,000. A down payment of $20,000 is required by the machine tool builder and the loan balance will be paid in 5 equal yearly payments. The machine tool builder expects Ross Machine Company to pay the interest on the unpaid balance with each of the payments. If the machine builder charges an interest of 10% per year, develop a loan repayment schedule for this loan. Acument Global Technologies is exploring investment opportunities for $10 M. The company would like to maximize the return on this investment. Four investment opportunities being explored are for a period of 10 years. Help the company choose the best investment opportunity. 10% compounded quarterly. 9.85% compounded daily. 9.95% compounded monthly. 9.80% compounded continuously. Tom Weavers is interested in having an inheritance of 4100,000 doubled in 5 years. What interest rate should he get if the interest rate is compounded monthly? A local store charges 11/2% each month on the unpaid balance for its charge account. What nominal annual interest rate is being charged? What is the effective interest rate? How long does it take double an investment of $10,000 if the investment pays only simple interest at the rate of 12% per annum

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