Your parts supplier gives you one-quarter of a year to pay for parts ordered today, or offers you a discount if you pay cash at purchase
You have just purchased $73,500 worth of parts from your supplier and the discount is at an annual rate of 8%. How much will you pay for the parts if you pay today?
A) $73,500
B) $72,099
C) $68,056
D) $72,046
Answer: B
Explanation: B) PV = = = $72,099.36
MODE = END
INPUT .25 8 ? 0 -73,500
KEY N I/Y PV PMT FV
CPT 72,099.36
Business
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