Webster Mining Is Considering the Purchase of a New Sorting

question 105

Multiple Choice

Webster Mining is considering the purchase of a new sorting machine.The quote consists of a quarterly payment of $29,600 for seven years at 8 percent interest.What is the purchase price of the equipment?

• A)$621,380.92
• B)$629,925.66
• C)$687,418.22
• D)$774,311.28
• E)$836,267.35