Question 6 (4 points) A company is buying a machine that would cost $300,000 if...
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Question 6 (4 points) A company is buying a machine that would cost $300,000 if purchased for cash. They will make a down payment of $30,000 on January 1, 2021 and finance the rest at 8% with equal payments starting January 1, 2022 and continuing for 8 years. 30,000 - ?1st----?2nd-----3rd? etc ---8th? -- The PV of an Ordinary Annuity for 8 periods and 8% is 5.741664 The PV of an Annuity Due for 8 periods and 8% is 6.20637 The FV of an Ordinary Annuity for 8 periods and 8% is 10.63663 The PV of 1 for 8 periods and 8% is.54027 The FV of 1 for 8 periods and 8% is 1.85093 What is the amount of the equal payment they will be making? Show work rounding to nearest whole dollar for payment
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