Bangin Inc

question 15

Multiple Choice

Bangin Inc.financed the purchase of a machine by making ten annual payments of $13,000 with the first payment due today.The purchase cost of the machine is considered to be the present value of those payments.What was the purchase cost of the machine to Bangin assuming a discount rate of 9%?

• A)$59,633
• B)$75,467
• C)$83,429
• D)$90,938

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Definitions:

Type 2 Diabetes

A chronic condition that affects the way the body processes blood sugar (glucose) due to insulin resistance or a lack of insulin.

Psychological Factor

An aspect of an individual's mental or emotional state that influences behavior and perception.

Susceptibility

The likelihood or predisposition of an individual or group to be affected or influenced by a particular condition or disease.

Serious Illness

A health condition that poses a significant risk to an individual’s well-being, often requiring extensive medical treatment or hospitalization.