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Cromwell enterprises is acquiring athens, inc. for $899,000. athens has agreed to accept annual payments of $210,000 at an interest rate of 8.5 percent. how many years will it take cromwell enterprises
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Cromwell enterprises is acquiring athens, inc. for $899,000. athens has agreed to accept annual payments of $210,000 at an interest rate of 8.5 percent. how many years will it take cromwell enterprises to pay for this purchase

User Guradio
by
7.0k points

1 Answer

5 votes
5.55 years

I/Y: 8.5
PV: 899000
PMT: -210000
FV:0
User Dimshik
by
5.8k points
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