Alpha Geek

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    Polytechnic State University Sanluis
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Category > Accounting Posted 05 May 2017 My Price 3.00

A piece of machinery can be bought for $10000

A piece of machinery can be bought for $10000 cash or for $2000 down and payments of $750 per year for 15 years. What is the annual interest rate for the time payments

Answers

Alpha Geek
(8)
Status NEW Posted 05 May 2017 11:05 AM My Price 3.00

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file 1493985021-Answer.docx preview (53 words )
A----------- pi-----------ece----------- of----------- ma-----------chi-----------ner-----------y c-----------an -----------be -----------bou-----------ght----------- fo-----------r $-----------100-----------00 -----------cas-----------h o-----------r f-----------or -----------$20-----------00 -----------dow-----------n a-----------nd -----------pay-----------men-----------ts -----------of -----------$75-----------0 p-----------er -----------yea-----------r f-----------or -----------15 -----------yea-----------rs.----------- Wh-----------at -----------is -----------the----------- an-----------nua-----------l i-----------nte-----------res-----------t r-----------ate----------- fo-----------r t-----------he -----------tim-----------e p-----------aym-----------ent-----------s -----------Ans-----------wer----------- T-----------ota-----------l a-----------mou-----------nt -----------pai-----------d= -----------15 -----------* 7-----------50 -----------= 1-----------125-----------0 A-----------mou-----------nt -----------pay-----------abl-----------e= -----------$10-----------000------------$2-----------000-----------= $-----------800-----------0 I-----------nte-----------res-----------t p-----------aid----------- = -----------112-----------50 ------------ 8-----------000----------- = -----------325-----------0 a-----------ppl-----------yin-----------g -----------
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