Multiple Choice
This morning Roseland Inc.purchased a land for a new manufacturing facility at a price of $750,000.However, the seller is financing the transaction and equal quarterly payments will be made starting today, July 1, 2005.The last semi-annual payment will be made on December 31, 2024.The applicable interest rate is 8%.How much is each semi-annual payment?
A) $35,365
B) $36,435
C) $37,893
D) None of the above
Correct Answer:
Verified
Correct Answer:
Verified
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