Multiple Choice
On May 1, 2014, a company purchased a new machine which it does not have to pay for until May 1, 2016. The total payment on May 1, 2016 will include both principal and interest. Assuming interest at a 10% rate, the cost of the machine would be the total payment multiplied by what time value of money factor?
A) Future value of annuity of 1
B) Future value of 1
C) Present value of annuity of 1
D) Present value of 1
Correct Answer:
Verified
Correct Answer:
Verified
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