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A company has just purchased a machine with a cost of $79,994, and signed a...

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Accounting

A company has just purchased a machine with a cost of $79,994, and signed a note to pay the manufacturer equal semi-annual amounts of $9,378. If the current rate of interest is 6%, how many equal payments will be made?

Select one:

a. 5

b. 6

c. 8

d. 10

e. 12

Please show all work and use Present Value Tables

Answer & Explanation Solved by verified expert
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