Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. marigold corp. financed the purchase of a machine

Marigold Corp. financed the purchase of a machine by making payments of $27500 at the...

60.1K

Verified Solution

Question

Accounting

Marigold Corp. financed the purchase of a machine by making payments of $27500 at the end of each of five years. The appropriate rate of interest was 8%. The future value of one for five periods at 8% is 1.46933. The future value of an ordinary annuity for five periods at 8% is 5.86660. The present value of an ordinary annuity for five periods at 8% is 3.99271. What was the cost of the machine to Marigold?

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

Electrical Engineering
1.2K views

a) What is the advantages of using a wound-rotor type of induction motor? Under what conditions? b)...

Physics
1.2K views

41 Compressed air is contained in a cylinder at room temperature It suddenly start leaking...

Physics
1.2K views

Which of the following quantities don t depend on the choice of zero potential O...

Basic Math
1.2K views

5 6 pts Looking at the two Box Plots below which has a larger Range...

Basic Math
1.2K views

The abacus shown on the right has "five" playing the role of "ten." Thus, 42...

Statistics
1.2K views

The data to the right contain the state cigarette tax in for all 20 regions...

Accounting
1.2K views

Accrual and deferral are the basis for adjusting entries during closing. Distinguish between deferral and...

Accounting
1.2K views

ACC403 Tax Return #1 Fall, 2018 Carson W. Ezechukwu, III (age 66 as of December...

Accounting
1.2K views

Traditional accounting has several limitations which have led to the rise of social accounting. Describe...

Accounting
1.2K views

need ans ge You weldin sech Ouit navigation Take me to...

Accounting
1.2K views

Parker Plastic, Incorporated, manufactures plastic mats to use with rolling office chairs. Its standard cost...

Accounting
1.2K views

Required information Use the following information for the Exercises below. (Algo) [The following information applies...