You buy a new piece of equipment for $24,869, and you receive a cash inflow of...
You buy a new piece of equipment for $24,869, and you receive a cash inflow of $3,300 per year for 12 years. Use Appendix D for an approximate answer but calculate your final answer using the financial calculator method.
Homework Answers
Hello, the question does not state what needs to be calculated but given the figures, the only thing missing is rate of interest,
It is calculated using the RATE function as follows:
=RATE(nper,pmt,pv)
=RATE(12,3300,-24869)
=8.00%
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