A surface mining company has determined that it needs an additional haul truck to increase ore production
Fantastic news! We've Found the answer you've been seeking!
Question:
A surface mining company has determined that it needs an additional haul truck to increase ore production by eliminating the idle time incurred by the loading shovel waiting for a haul truck to arrive. The mining company decided to lease a new $600,000 haul truck for 5 years. If the lease payments are set at $9,000 per month, determine the minimum resale value of the haul truck at the end of the lease period for the leasing company to carn a minimum 12.0% Nominal Annual Rate. Assume monthly compounding and that no other fees are applied.
Related Book For
Business Statistics A Decision Making Approach
ISBN: 9780133021844
9th Edition
Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry
Posted Date: