Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ronan industries needed to buy a piece of equipmen

Ronan Industries needed to buy a piece of equipment, so it was financed for five...

90.2K

Verified Solution

Question

Accounting

Ronan Industries needed to buy a piece of equipment, so it was financed for five years with payments of $20,000 at the end of each year. The rate of interest was 8% with the future value of 1 for five periods at 8% was 1.46933. The present value of the ordinary annuity for these same five periods is 3.99271, and the future value of an ordinary annuity is 5.8666. The machine will cost Ronan Industries a total of

  • A : $29,588.

  • B : $117,334.

  • C : $100,000.

  • D : $79,854.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A large cube is painted on all six faces. It is then divided into 27 smaller, congruent...

Statistics
Q

After the Introduction of a new product, the percent of the public that is aware of...

Advance Math
Q

write Issues, Rules, Analysis and conclusion on First National Maintenance Corp Vs NLRB

General Management
Q

Hominins are 1 the lesser apes O2 chimpanzees and gorillas 3 arboreal primates 4 all...

Biology
Q

Complete the following sentence:Sue was known for her approach to playing the pianoA. presumeB. meticulousC....

Biology
Q

origin of co ordinate system lies at the centre of mass the sum of the...

Physics
Q

A plane progressive wave of frequency 25 Hz amplitude 2 5 x 105 m and...

Physics
Q

INFORMATION Extracts for the year ended 31 December 2022 of the Statement of Comprehensive Income...

Accounting
Q

Interpreting the Effects of Inventory Valuation on Financial Results Jasmine Compary uses the UFO costing...

Accounting
Q

Assume a clinical laboratory is considering a new test. Here are the key assumptions: Annual...

Accounting
Q

Current Exchange Rates: $1.2 = 1 Canadian Dollar and 12 Mexican Pesos = $1 Current...

Finance
Q

Which of the following is not a change in accounting principle that usually is accounted...

Accounting