Bangin Inc. financed the purchase of a machine by making ten annual payments of $13,000 with the first payment due today. The purchase cost of the machine is considered to be the present value of those payments. What was the purchase cost of the machine to Bangin assuming a discount rate of 9%?

In order to take advantage of the time value of money you should do all of the following except

A) pay bills electronically so you can delay payments and still ensure on-time payment. B) pay bills a little later than the due dates to take advantage of month-ending interest on your savings account. C) use settings on many bill-paying Web sites that allow you to set a future date for payment once you receive a bill. D) make use of your money while you have it, but always make payments by the due dates.

Burnout can be dealt with in all of the following ways EXCEPT ________

A) seeking additional on-the-job interests B) setting realistic expectations C) workload reduction D) using relaxation techniques in the workplace