edugen.wileyplus.com ACCT-3103-40917-Intermediate Accounting I WileyPLUS WileyPLUS: MyWileyPLUSI Help 1 Contact S Kieso, Intermediate Accounting, 16e Intermediate Accounting (ACCT 310 STANDARD VIEW PRINTER VERSION BACK NEXT Two Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION SHOW ANSWER LINK TO TEXTLINK TO TEXT LINK TO TEXT Attempts: 1 of 15 used Your answer is incorrect. Try again. Culver Inc. has completed the purchase of new Dell computers. The fair value of the equipment is $800,600. The purchase agreement specifies an immediate down payment of $196,400 and semiannual payments of $78,247 beginning at the end of 6 months for 5 years. What is the interest rate, to the nearest percent, used in discounting this purchase transaction? Interest rate semiannually Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXT LINK TO TEXT Attempts: 3 of 15 used SAVE FOR LATER S SUBMIT ANSWER The parts of this question must be completed in order. This part will be available when you complete the part above. The parts of this questlon must be completed in order. This part will be available when you complete the part above.
Culver Inc. What is the interest rate, to the nearest percent, used in discounting this purchase transaction? PV–OA = R (PVF–OA n, i ) $604,200 = $78,247 (PVF–OA 10, i ) PV–OA 10, i = $604,200 / $78,247 PV–OA 10, i = 8.11090 7.721702 is the present value of a 10-period annuity of $1 discounted at 5%. The interest rate is 4% semiannually, or 10% annually.
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