Bethany Iron and Steel is evaluating possible economic advantages of being involved in electronic commerce. A modest e-commerce package is available for $30,000. If the company wants to recover the cost in 2 years, what is the equivalent amount of new income that must be realized every 6 months at an interest rate of 12% per year compounded quarterly? Solve using two of the following three approaches: factor formula, calculator, and spreadsheet.
Bethany Iron and Steel is evaluating possible economic advantages of being involved in electronic commerce. A modest e-commerce package is available for $30,000. If the company wants to recover the cost in 2 years, what is the equivalent amount of new income that must be realized every 6 months at an interest rate of 12% per year compounded quarterly? Solve using two of the following three approaches: factor formula, calculator, and spreadsheet.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Bethany Iron and Steel is evaluating possible economic advantages of being involved in electronic commerce. A modest e-commerce package is available for $30,000. If the company wants to recover the cost in 2 years, what is the equivalent amount of new income that must be realized every 6 months at an interest rate of 12% per year compounded quarterly? Solve using two of the following three approaches: factor formula, calculator, and spreadsheet.
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