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:








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









Following knowledge from mathematics are needed to solve this word math problem:

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

Next similar math problems:

  1. Two workers
    work One worker needs 40 hours to do a job, and the second would do it in 30 hours. They worked together for several hours, then the second was recalled, and the first completed the job itself in 5 hours. How many hours did they work together, and how much did.
  2. The trapezium
    rt_iso_triangle The trapezium is formed by cutting the top of the right-angled isosceles triangle. The base of the trapezium is 10 cm and the top is 5 cm. Find the area of trapezium.
  3. Blueberries
    blueberry 5 children collect 4 liters of blueberries in 1.5 hours. a) How many minutes do 3 children take 2 liters of blueberries? b) How many liters of blueberries will be taken by 8 children in 3 hours?
  4. Positional energy
    energy What velocity in km/h must a body weighing 60 kg have for its kinetic energy to be the same as its positional energy at the height 50 m?
  5. Floating of wood - Archimedes law
    balza05 What will be the volume of the floating part of a wooden (balsa) block with a density of 200 kg/m3 and a volume of 0.02 m3 that floats in alcohol? (alcohol density is 789 kg/m3)
  6. Cheops pyramid
    Pyramid-cheops The Pyramid of Cheops is a pyramid with a square base with a side of 233 m and a height of 146.6 m. It made from limestone with a density of 2.7 g/cm3. Calculate the amount of stone in tons. How many trains with 30 twenty tons wagons carry the stone?
  7. AM of three numbers
    arithmet_seq The number 2010 can be written as the sum of 3 consecutive natural numbers. Determine the arithmetic mean of these numbers.
  8. Cylinder and its circumference
    cylinder If the height of a cylinder is 4 times its circumference. What is the volume of the cylinder in terms of its circumference, c?
  9. Propeller
    Tupolev_Tu-95 The aircraft propeller rotates at an angular speed of 200 rad/s. A) What is the speed at the tip of the propeller if its distance from the axis of rotation is 1.5 m? B) What path does the aircraft travel during one revolution of the propeller at a speed
  10. Reducing balance method
    books A company buys an item having a useful life of 10 years for 1,000,000. If the company depreciates the item by the reducing balance method, a. Determine the depreciation for the first year. b. Estimate the depreciation for the second and third years. c..
  11. Surface of the cylinder
    valec_1 Calculate the surface of the cylinder for which the shell area is Spl = 20 cm2 and the height v = 3.5 cm
  12. Cuboid face diagonals
    face_diagonals The lengths of the cuboid edges are in the ratio 1: 2: 3. Will the lengths of its diagonals be the same ratio? The cuboid has dimensions of 5 cm, 10 cm, and 15 cm. Calculate the size of the wall diagonals of this cuboid.
  13. Body diagonal
    kvadr_diagonal Calculate the volume of a cuboid whose body diagonal u is equal to 6.1 cm. Rectangular base has dimensions of 3.2 cm and 2.4 cm
  14. Cut trees
    stromy There are 1,200 trees in the grove, of which 55 percent are deciduous, the remaining coniferous. Workers cut down 35 percent a) trees, b) deciduous trees, c) coniferous trees. How many trees now have this grove?
  15. Uphill garden
    12perctent I have a garden uphill, increasing from 0 to 4.5 m for a length of 25 m, how much is the climb in percent?
  16. The escalator
    eskalator I run up the escalator at a constant speed in the direction of the stairs and write down the number of steps A we climbed. Then we turn around and run it at the same constant speed in the opposite direction and write down the number of steps B that I climb
  17. Three points 4
    linearna The line passed through three points - see table: x y -6 4 -4 3 -2 2 Write line equation in y=mx+b form