Engineering company just purchased a new cad software for, Ask an Expert

Economics

Engineering company just purchased a new CAD software for $8,000 now and annual payments of $500 per year for 6 years starting 2 years from now for annual upgrades. What is the present worth of the payments if the interest rate is 6% per year? Please show the Compound interest formula used.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91718772

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