A manufacturing company sold a piece of equipment 4 years ago to make some space...
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Accounting
A manufacturing company sold a piece of equipment 4 years ago to make some space for machinery. The company receive a sales price of 50,000 at the time of the sale. Now assuming the proceeds were invested at an interest rate of 6% per year compounded annually, what would the value of the sales proceeds and the interest they have earned today be?
I have solved this question using the tvm values and got 63124 but it was wrong. Please explain how to do it correctly.
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