Answered

IDNLearn.com is your trusted platform for finding reliable answers. Discover the information you need quickly and easily with our reliable and thorough Q&A platform.

4-8 A manufacturing firm spends $350,000 annually for a required safety inspection program. A new monitoring technology would eliminate the need for such inspection. If the interest rate is 8% per year, how much can the firm afford to spend on this new technology

Sagot :

Answer:

$3,436,351.59

Explanation:

The computation of the amount that could be afforded to spend is shown below:

= Amount × (P/A, 8%, 20 years)

= $350,000 × 9.8181

= $3,436,351.59

We simply applied the above formula so that the correct value could come

And, the same is relevant too

Your engagement is important to us. Keep sharing your knowledge and experiences. Let's create a learning environment that is both enjoyable and beneficial. IDNLearn.com is committed to your satisfaction. Thank you for visiting, and see you next time for more helpful answers.