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Assume an annual discount rate (interest rate) of 10% and annual compounding in each of the following scenarios: (2) Ace leases a machine and agrees to pay $10,000 at the end of each year for 10 years. How much did the machine cost? (3) Ace buys a machine and agrees to make ten (10) annual payments of $10,000, with the first annual payment being made today. How much did the machine cost?

/in /by

Assume an annual discount rate (interest rate) of 10% and annual compounding in each of the following

scenarios:

(2) Ace leases a machine and agrees to pay $10,000 at the end of each year for 10 years. How much did the machine cost?

(3) Ace buys a machine and agrees to make ten (10) annual payments of $10,000, with the first annual payment being made today. How much did the machine cost?

 
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