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What was the cost of the machine to cloud

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Question - Cloud Company financed the purchase of a machine by making payments of $20,000 at the end of each of five years. The appropriate rate of interest was 8%. The future value of one for five periods at 8% is 1.46933. The future value of an ordinary annuity for five periods at 8% is 5.8666. The present value of an ordinary annuity for five periods at 8% is 3.99271. The present value of an annuity due for five periods at 8% is 4.31213. What was the cost of the machine to Cloud?

a) $79,854

b) $117,334

c) $29,588

d) $86,243

Reference no: EM132876142

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