Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a machine is purchased by making payments of $1800

A machine is purchased by making payments of $18000 at the beginning of...

90.2K

Verified Solution

Question

Accounting

A machine is purchased by making payments of $18000 at the beginning of each of the next five years. The interest rate was 11%. The future value of an ordinary annuity of 1 for five periods is 6.22780. The present value of an ordinary annuity of 1 for five periods is 3.69590. What is the cost of the machine?
$73844
$66527
$112100
$124431
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Advance Math
1.2K views

Key information: Box dimension: 12” x 10” x 6” O.D. Pallet dimensions: 48” x 42” x 6” Constraints:...

Operations Management
1.2K views

list and discuss four important organization 'corporate social responsibilities'

Biology
1.2K views

You can export only the wizard O one O two O three O four

Basic Math
1.2K views

Some healthcare products are advertised tobe effective without muchbehindthem, which makes them questionable.A. moneyB. guaranteeC....

Accounting
1.2K views

2. Machine Master, Inc. had the following data regarding monthly power costs:MonthMachine hoursPower costJan300$650Feb600720Mar400685Apr200640May3506751) Use...

Accounting
1.2K views

If the unit selling price is $55 and the variable cost per unit is $35...

Accounting
1.2K views

Starbucks repurchased over $1.4 billion of its common stock in 2015. How did this repurchase...

Accounting
1.2K views

1 Not complete Marked out of 2,00 P Flag question Research and Development Expense International...

Accounting
1.2K views

Single Plantwide Factory Overhead Rate Scrumptious Snacks Inc, manufactures three types of snack foods: tortilla...

Accounting
1.2K views

Which of the following statements is true regarding the analysis of current liabilities? Select one:...

Accounting
1.2K views

What does it indicate when a superintendent has to write a lot of stopgap purchase...

Accounting
1.2K views

I'm needing help with problem 3-5b page 137 of Financial and Managerial Accounting, 8th Edition...