An engineering technology group just purchased a software for $7,000 now and annual payments of $300 per year for 8 years starting 4 years from now for annual upgrades, find the present worth of the payment if the interest rate is 5%?
An engineering technology group just purchased a software for $7,000 now and annual payments of $300 per year for 8 years starting 4 years from now for annual upgrades, find the present worth of the payment if the interest rate is 5%?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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