Ask Experts Questions for FREE Help!
 

Free Answers in 3 Easy Steps

Register Now
3 Steps
 


Ask QuestionsprogressAnswer QuestionsprogressBuild ReputationprogressBecome an Expert
 
At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to:
  • Get free answers from experts in any of our 300+ topics.
  • Accept money for answers that you provide.
  • Communicate privately with other members (PM).
  • See fewer ads.
  Answer this Question    Ask about Finance & Accounting    Ask about another Subject  
 

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.