A lock-box system reduces A) mail float. B) transit float. C) ...

[dbose]

A lock-box system reduces
 
  A) mail float. B) transit float.
  C) disbursing float. D) A and B

Question 2

Your firm intends to finance the purchase of a new construction crane. The cost is 1,500,000. How large is the payment at the end of year ten if the crane is financed at a rate of 8.50 as a discount loan?
 
  A) 228,611.56
  B) 127,500.00
  C) 3,391,475.16
  D) There is not enough information to answer this question.

[heyhey123]

Answer to Question 1

D

Answer to Question 2

Answer: C
Explanation: C) FV = PV  (1 + r)n = 1,500,000  (1.085)10 = 3,391,475.16.

MODE = END
INPUT 10 8.5 -1,500,000 0 ?
KEY N I/Y PV PMT FV
CPT 3,391,475.16