May 4th, 2015
Business Finance
Price: $5 USD

Question description

Bee Corp. bought a new machine on 1/1/2015 and agreed to pay for it in 5 equal installments of 50,000 on 12/31/15 and 12/31 of the next four years. Assuming the interest rate of 6% applies to this contract, how much should Bee Corp. record as cost of the machine?

-Use in the form of a financial calculator and include key strokes entered (N=,I/Y=,PV=,PMT=)

Tutor Answer

(Top Tutor) Kelvin B
School: Rice University

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