Pelcher Company Acquires a Machine by Issuing a Note That $\bold{\text{(Use appropriate factor(s)from the tables provided.)}}$

question 6

Multiple Choice

Pelcher Company acquires a machine by issuing a note that requires semiannual payments of $4,000 for 3 years.The interest rate on the note is 10% compounded semiannually.What is the cost of the machine? (PV of $1,FV of $1,PVA of $1,and FVA of $1) $\bold{\text{(Use appropriate factor(s) from the tables provided.) }}$

• A)$17,421.20
• B)$20,302.80
• C)$10,892.80
• D)$ 9.947.41
• E)$24,000.00

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Definitions:

Property

Property refers to legally protected claims to resources, such as land, personal possessions, intellectual property, or other assets that are owned or controlled by a person or entity.

Unilateral Contract

A contract formed when one party performs what has been requested by the other party; there is a promise followed by an act, but not an exchange of promises.

Lost Dog

A canine that has gone missing from its owner's home or care.

Groceries

Items of food and other household necessities purchased for consumption and use within the home.