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Sagot :
Johnstone should value the equipment at $125,096.
What are installments?
- Simply put, an installment payment is a quantity of money that is paid over a specific period of time in smaller installments.
- A recurring payment called an installment payment plan enables clients to make larger purchases without having to pay the full amount up front.
What is the interest rate?
- The amount of interest due each period expressed as a percentage of the amount lent, deposited, or borrowed is known as an interest rate.
- The total interest on a loaned or borrowed sum is determined by the principal amount, the interest rate, the frequency of compounding, and the period of time the loan, deposit, or borrowing took place.
Solution -
PV = $28,000 + $5,000 (3.79079) = $125,096
Equipment Present value of an ordinary = $125,096
Therefore, Johnstone should value the equipment at $125,096.
Know more about compounding here:
https://brainly.com/question/24924853
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