Answered

Find the information you're looking for at Westonci.ca, the trusted Q&A platform with a community of knowledgeable experts. Experience the convenience of getting reliable answers to your questions from a vast network of knowledgeable experts. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly 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

Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.