Marigold Corp. financed the purchase of a machine by making payments of $27500 at the...
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Marigold Corp. financed the purchase of a machine by making payments of $27500 at the end of each of five years. The appropriate rate of interest was 8%. The future value of one for five periods at 8% is 1.46933. The future value of an ordinary annuity for five periods at 8% is 5.86660. The present value of an ordinary annuity for five periods at 8% is 3.99271. What was the cost of the machine to Marigold?
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