A company buys a machine for $12,000, which it agrees to pay for in five equal annual
Question:
A company buys a machine for $12,000, which it agrees to pay for in five equal annual payments, beginning one year after the date of purchase, at an interest rate of 4% per annum. Immediately after the second payment, the terms of the agreement are changed to allow the balance due to be paid off in a single payment the next year. What is the final single payment?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
A 12000 AP 4 5 12000 02246 269520 The final pa...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
A company buys a machine for $61,700 on January 1, 2010. The maintenance costs for the years 2010-2013 are as follows: 2010, $4,900; 2011, $4,700; 2012, $12,400 (includes $7,800 for cost of a new...
-
A company buys a machine for $61,700 on January 1, 2008. The maintenance costs for the years 20082011 are as follows: 2008, $4,900; 2009, $4,700; 2010, $12,400 (includes $7,800 for cost of a new...
-
A company buys a machine for $28,100 on January 1, 2005. The maintenance costs for the years 20052008 are as follows: 2005, $2,100; 2006, $2,300; 2007, $8,700 (includes $6,500 for cost of a new motor...
-
Let us first assume that an estimate k; of the queue length at the beginning of the i-th slot is available. In possession of that in- formation the Pseudo-Bayesian Algorithm is such that each node...
-
The sale price of a digital camera after a 20% discount is $340. Find the original price?
-
Suppose there are 100 identical firms in the perfectly competitive note card industry. Each firm has a short-run total cost curve of the form: STC = 1/300 q3 + 0.2q2 + 4q + 10 and marginal cost is...
-
Explain, through an example, how methods can be derived from messages.
-
1. Draw the Supply Curves. The following table shows short-run marginal costs for a perfectly competitive firm: a. Use this information to draw the firms marginal cost curve. b. Suppose the shut-down...
-
Reddy transfers land (fmv of $55,000 and basis of $15,000) for 45% of RBB Co and $10,000 cash. Bluey transfers a truck (fmv of $45,000 and basis of $50,000) for 45% of RBB Co. Bingo provides services...
-
A psychologist is designing a study to evaluate three new treatments for a behaviorial problem in children. The psychologist will include a second factor, which will classify the subjects according...
-
A $ 150 bicycle was purchase don December 1with a $15 down payment the balance is to be paid at the rate of $10 at the end of each month, with the first payment due on December 31. The last payment...
-
An engineering student bought a car at a local used car lot. Including tax and insurance, the total price was $3000. He is to pay for the car in 12 equal monthly payments, beginning with the first...
-
At Terrys Totally Tapas restaurant, the estimated gross payroll total for all employees this year is $675,000. The job classifications and their estimated payroll are as follows: office staff $75,000...
-
A stoplight weighing 200 Newtons is hung between two poles that are 10 meters apart. One pole is 8 meters tall, and the other is 11 meters tall. The stoplight is hung by attaching one rope from the...
-
1. Find vector c. Express this vector in any (reasonable) way you see fit. c = a + 3b = [3 m] + [-2 m]y b = [-1 m] + [4 m] 2. Find vector c. Express your answer in terms of magnitude and angle. c =...
-
49. Given the following air sample data, calculate the gross activity airborne concentration in Ci/em": frisker bkg = 200 cpm air sample volume = 60 ft 1 Ci 2.22 x 10 dpm gross count rate on filter =...
-
A single phase inverter with an inductive load R = 20 22, L = 100 mH is supplied with a constant voltage source VG = 48 V. The switches operate such that the output is a square wave, whose first...
-
Two parallel airways are present. Resistance for BYC is 0.85 and for BXC is 0.35 gauls. Minimum air quantity requirement for all airways, is 3m/sec. All airways have square cross section (4mx4m)....
-
What are some of the risks and considerations that Reliance Retail needs to make when partnering with companies like Meta for future e-commerce platform development?
-
Based on the scenario described below, generate all possible association rules with values for confidence, support (for dependent), and lift. Submit your solutions in a Word document (name it...
-
In a 1031 like-kind exchange, Rafael exchanges a piece of equipment that originally cost $200,000. On the date of the exchange, the equipment given up has an adjusted basis of $85,000 and a fair...
-
The tabulation of the incremental cash flows between alternatives A and B is shown on the next page. Alternative A has a 3-year life and alternative B a 6-year life. If neither alternative has a...
-
Standby power for pumps at water distribution booster stations can be provided by either gasoline-or diesel-powered engines. The costs for the gasoline engines are as follows: Gasoline First cost, $...
-
Several high-value parts for NASA's reusable space exploration vehicle can be either anodized or powder-coated. Some of the costs for each process are shown below: The incremental AW cash flow...
-
This project requires an investment in fixed assets, at time 0, of 44,000,000. Assets will be depreciated straight line in 5 years. This project has a 4 year life. The revenues for each of the 4...
-
Lorenzo Company applies overhead to jobs on the basis of direct materials cost. At year - end, the Work in Process Inventory account shows the following. Work in Process Inventory Date Explanation...
-
T-bill with a $10,000 par has 174 days until maturity. The T-bill has a bank discount bid quote of 2.208% and ask quote of 2.198%. What is the return on the investment in this T-bill if the trader...
Study smarter with the SolutionInn App