Question

Love Corporation purchased a special tractor on December 31, 2020. The purchase agreement stipulated that Waterway...

Love Corporation purchased a special tractor on December 31, 2020. The purchase agreement stipulated that Waterway should pay $20,180 at the time of purchase and $5,020 at the end of each of the next 8 years. The tractor should be recorded on December 31, 2020, at what amount, assuming an appropriate interest rate of 12%? (Round factor values to 5 decimal places)

Love Corporation wants to withdraw $113,110 (including principal) from an investment fund at the end of each year for 9 years. What should be the required initial investment at the beginning of the first year if the fund earns 11%

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