May 30, 2016

Homework Help: Accounting

Posted by Anonymous on Thursday, April 26, 2012 at 9:07am.

Big Company purchased a machine on February 1, 2013, and will make seven semiannual payments of $26,000 beginning five years from the date of purchase. The interest rate will be 12%, compounded semiannually. Determine the purchase price of the machine.

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