Multiple Choice
Bangin Inc.financed the purchase of a machine by making ten annual payments of $13,000 with the first payment due today.The purchase cost of the machine is considered to be the present value of those payments.What was the purchase cost of the machine to Bangin assuming a discount rate of 9%?
A) $59,633
B) $75,467
C) $83,429
D) $90,938
Correct Answer:
Verified
Correct Answer:
Verified
Q10: Anne wants to accumulate $25,000 by December
Q11: A series of equal periodic payments that
Q12: Future value factors are determined by two
Q13: What is the market price of a
Q16: You decide to deposit $5,000 at a
Q18: Terry Brown purchases a used car and
Q19: Which of the following equations is consistent
Q20: Bobby's parents loaned him $80,000 to fund
Q58: How is the effective interest rate determined?
Q75: Compound interest is computed on both the