campbell1525
Nov 12, 2008, 12:17 PM
I am having the hardest time trying to find the formula to figure this equation out here is the problem
derek lee inc. has completed the purchase of new dell computers. the fair market value of the equipment is $824,150. the purchase agreement specifies an immediate down payment of $200,000 and semiannual payments of $76,952 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?
I have divided 824,150/76952 and also 624150/76952 but cannot find the interest rate on the table I am using.
derek lee inc. has completed the purchase of new dell computers. the fair market value of the equipment is $824,150. the purchase agreement specifies an immediate down payment of $200,000 and semiannual payments of $76,952 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?
I have divided 824,150/76952 and also 624150/76952 but cannot find the interest rate on the table I am using.





