A new oven will save $80 per year in electricity expense. How much can we afford to pay for this oven if it is expected to last 12 years? The interest rate is 13% per year. Click the icon to view the interest and annuity table for discrete compounding when= 13% per year. The affordable amount of payment is S (Round to the nearest dollar.)
A new oven will save $80 per year in electricity expense. How much can we afford to pay for this oven if it is expected to last 12 years? The interest rate is 13% per year. Click the icon to view the interest and annuity table for discrete compounding when= 13% per year. The affordable amount of payment is S (Round to the nearest dollar.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![ent is $
(Round to the nearest
Single Pr
Compound
Amouat
Factor
To Find
Given. P
FIP
0.8860
0.7831
0 6931
1
1.1300
1.0000
0.8850
1.0000
1,1300
0.5995
0.4235
1.2769
2.1300
1.6681
0.4695
3
1.4429
3.4069
4 8498
2.3612
2 9745
0.2935
4
1.6305
0.6133
0 5428
0.4803
0 2062
0.3362
1.8424
6.4803
3.5172
0.1543
0.2843
2.0820
8.3227
10.4047
3.9975
0.1202
0.2502
2.3526
2.6584
0.4251
4.4226
4.7988
5.1317
0.0961
0.2261
8
0.3762
0.3329
12.7573
15.4157
0.0784
0 0649
0.0543
0.0458
0.2084
3.0040
0.1949
10
3,3946
0.2946
18.4197
5.4262
0. 1843
11
3.8359
0.2607
218143
5.6869
0.1758
0.1690
12
4.3345
0.2307
25.6502
29.9847
5.9176
0.0390
13
4.8980
0.2042
0.1807
6.1218
0.0334
0.1634
14
5.5348
34.8827
6.3025
6.4624
0.0287
0,1587
0.1547
15
6.2543
0.1599
40.4175
0.0247
16
7.0673
0.1415
46.6717
6,6039
6.7291
0.0214
0.1514
17
7.9861
0.1252
53.7391
0.0186
0.1486
in the answer box
Print
Done](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd2a52c29-8967-46b0-a852-6a6666ddcbf8%2Ff971bbf4-ca0e-4eb5-b178-aec9eaa6b847%2Fs926do1_processed.jpeg&w=3840&q=75)
Transcribed Image Text:ent is $
(Round to the nearest
Single Pr
Compound
Amouat
Factor
To Find
Given. P
FIP
0.8860
0.7831
0 6931
1
1.1300
1.0000
0.8850
1.0000
1,1300
0.5995
0.4235
1.2769
2.1300
1.6681
0.4695
3
1.4429
3.4069
4 8498
2.3612
2 9745
0.2935
4
1.6305
0.6133
0 5428
0.4803
0 2062
0.3362
1.8424
6.4803
3.5172
0.1543
0.2843
2.0820
8.3227
10.4047
3.9975
0.1202
0.2502
2.3526
2.6584
0.4251
4.4226
4.7988
5.1317
0.0961
0.2261
8
0.3762
0.3329
12.7573
15.4157
0.0784
0 0649
0.0543
0.0458
0.2084
3.0040
0.1949
10
3,3946
0.2946
18.4197
5.4262
0. 1843
11
3.8359
0.2607
218143
5.6869
0.1758
0.1690
12
4.3345
0.2307
25.6502
29.9847
5.9176
0.0390
13
4.8980
0.2042
0.1807
6.1218
0.0334
0.1634
14
5.5348
34.8827
6.3025
6.4624
0.0287
0,1587
0.1547
15
6.2543
0.1599
40.4175
0.0247
16
7.0673
0.1415
46.6717
6,6039
6.7291
0.0214
0.1514
17
7.9861
0.1252
53.7391
0.0186
0.1486
in the answer box
Print
Done
![Anew oven will save $80 per year in electricity expense. How much can we afford to pay for this oven if it is expected to last 12 years? The interest rate is 13% per year.
E Click the icon to view the interest and annuity table for discrete compounding when = 13%% per year.
The affordable amount of payment is $
(Round to the nearest dollar.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd2a52c29-8967-46b0-a852-6a6666ddcbf8%2Ff971bbf4-ca0e-4eb5-b178-aec9eaa6b847%2Fjmo8eib_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Anew oven will save $80 per year in electricity expense. How much can we afford to pay for this oven if it is expected to last 12 years? The interest rate is 13% per year.
E Click the icon to view the interest and annuity table for discrete compounding when = 13%% per year.
The affordable amount of payment is $
(Round to the nearest dollar.)
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