Your Firm Intends to Finance the Purchase of a New

question 56

Multiple Choice

Your firm intends to finance the purchase of a new construction crane.The cost is $1,500,000.How large is the payment at the end of year ten if the crane is financed at a rate of 8.50% as a discount loan?

• A)$228,611.56
• B)$127,500.00
• C)$3,391,475.16
• D)There is not enough information to answer this question.

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