Drilling machine

A manufacturing firm purchased a heavy duty drilling machine. They were given two payment options:
Option 1: Make a payment of $46,000 immediately to settle the invoice for the machine.
Option 2: Make a payment of $21,500 immediately and the balance of $23,550 in 3 months to settle the invoice.
If money is worth 4.12% compounded quarterly, answer the following:
What is the total present value of Option 2?

Result

a =  45935.8 USD

Solution:

Solution in text a =







Leave us a comment of this math problem and its solution (i.e. if it is still somewhat unclear...):

Showing 1 comment:
#
Dr Math
From our user:

Hi Peter,

Thank you for your time, I have checked your answer and it is still showing as wrong.

avatar









To solve this verbal math problem are needed these knowledge from mathematics:

Our percentage calculator will help you quickly calculate various typical tasks with percentages.

Next similar math problems:

  1. Summerjob
    tree2 The temporary workers planted new trees. Of the total number of 500 seedlings, they managed to plant 426. How many percents did they meet the daily planting limit?
  2. Highway repair
    truck_6 The highway repair was planned for 15 days. However, it was reduced by 30%. How many days did the repair of the highway last?
  3. Percentage increase
    percent_31 Increase number 400 by 3.5%
  4. Theorem prove
    thales_1 We want to prove the sentence: If the natural number n is divisible by six, then n is divisible by three. From what assumption we started?
  5. Persons
    ball1_6 Persons surveyed:100 with result: Volleyball=15% Baseball=9% Sepak Takraw=8% Pingpong=8% Basketball=60% Find the average how many like Basketball and Volleyball. Please show your solution.
  6. The ball
    ball1_4 The ball was discounted by 10 percent and then again by 30 percent. How many percent of the original price is now?
  7. Profit gain
    percent_12 If 5% more is gained by selling an article for Rs. 350 than by selling it for Rs. 340, the cost of the article is:
  8. 15 teachers
    skola_13 15 teachers teach for a combined amount of 128 days over a period of 64 days. What is this expressed as a percentage?
  9. Percents
    percents2_10 How many percents is 900 greater than the number 750?
  10. Percentages
    permutations_3_3 52 is what percent of 93?
  11. Frameworks is bad
    space Calculate how many percent will increase the length of an HTML document, if any ASCII character unnecessarily encoded as hexadecimal HTML entity composed of six characters (ampersand, grid #, x, two hex digits and the semicolon). Ie. space as:  
  12. Loan 4
    penize_49 Mr santos borrowed Php.18,000 at 1.5% interest for one year. What was the total amount he paid for the end of the 1-year term?
  13. Shuyen
    penize_49 Shuyen wanted to save some money. She deposited Php.300 in a bank which pays 0.5% interest per annum. After nine months, she needed the money to buy some gifts. How much will she be able to get if he withdraws all her money from the bank?
  14. Combined interest
    bank2 Combined interest: Carol has deposited CZK 100,000 in the bank with an annual interest rate of 1.5%. The money was put into the account 5.5.2016 and withdraw them all before Christmas 20.12.2016. How much money did she withdraw?
  15. Enterprise
    podniky_socik The value of annual production enterprise is 7.1 million USD. The average annual growth rate is 1.5%. What will be value of production at the end of the fifth year?
  16. Helmet
    Clock0400_7 In nowadays cycling better results could be obtained not only due to rider physical preparation but also thanks to using updated technologies. One of the most important part of rider´s equipment is his or her helmet. While most bikers wear a helmet mainly
  17. Pine
    trees How much of a mixed forest rangers want to cut down, if their head said: "We only cut down pine trees, which in our mixed forest 98%. After cut pine trees constitute 94% of all trees left."