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Big Company purchased a machine on February 1, 2013, and will make seven semiannual payments of...

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Accounting

Big Company purchased a machine on February 1, 2013, and willmake seven semiannual payments of $23,500 beginning five years fromthe date of purchase. The interest rate will be 12%, compoundedsemiannually. Determine the purchase price of the machine.

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the purchase price of machine will be the present value of the stream of payments first we need to know the present value of stream of payments starting 5    See Answer
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