# 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? Correct result: a = 45935.8 USD #### Solution: We would be pleased if you find an error in the word problem, spelling mistakes, or inaccuracies and send it to us. Thank you! 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. Tips to related online calculators Our percentage calculator will help you quickly calculate various typical tasks with percentages. Do you want to convert time units like minutes to seconds? #### You need to know the following knowledge to solve this word math problem: ## Next similar math problems: • In the In the workshop, it was necessary to quickly complete the production of veils for the hospital. The workshop staff promised to work an additional 240 hours to produce this order in March. The workshop has 8 employees who work 160 hours a month. What perce • Birthday paradox How large must the group of people be so that the probability that two people have a birthday on the same day of the year is greater than 90%? • Slow saving in banks How long will it take to save € 9,000 by depositing € 200 at the beginning of each year at 2% interest? • What is What is the annual percentage increase in the city when the population has tripled in 20 years? • Ditch The excavator dug 40% of the excavation in 2 hours 20 minutes. How long does it take him to dig the whole ditch? • Savings The depositor regularly wants to invest the same amount of money in the financial institution at the beginning of the year and wants to save 10,000 euros at the end of the tenth year. What amount should he deposit if the annual interest rate for the annua • Christmas holidays How many percent take Christmas holidays lasting 18 days from a school year that lasts 303 days? Round the result to two decimal places • Corona virus Calculate an estimate of the percentage of GDP (Gross Domestic Product) declined due to the quarantine related to the corona COVID-19 virus that lasts for 2 months, during which time the economic activity is down by 80%. • Volume of wood Every year, at the same time, an increase in the volume of wood in the forest is measured. The increase is regularly p% compared to the previous year. If in 10 years the volume of wood has increased by 10%, what is the number p? • Growth of wood The annual growth of wood in the forest is estimated at 2%. In how many years will make the forest volume double? • Mary Mary is 12 years old, which is 40% of the age of her mother. How many percent of her mother's age will Mary have after the next 12 years? • Two companies The family ordered two companies to modify the garden. The first would be done in 20 days, the second would take 40% less time. How long will they work together if the second company started working when the first worked for 4 days? • Harvest time Grandma and granddaughter Julka reap currants in 15 hours of working together. Julka herself would have currants 10 days after 6 hours of work a day. Find by what percentage the grandma's harvest time was shortened when the granddaughter was involved in c • Break time Calculate how many percent of school time is spent on breaks. Calculate data for the whole week. • Car down Sarah buys a car costing$12,500. It depreciates in value by 8% in the first year, 10% the second year and 5% in the third year. Calculate the value of a car after the third year.
• An investment
How long will it take for an investment to double at a simple interest rate of 5.10% p. A. ? Express the answer in years and months, rounded up to the next month.
• Curiosity factor
A blogger starts a new website, initially the number of the traffic is 293 due to their curiosity factor. The business owner estimated that the traffic will increase by 2,6% per week. What will be the number of it in week 5?.