How much will each payment be


Paul's Painting Co. acquired a new $800,000 press on April 1, 2010. Paul's will make six equal payments based upon 8% compound interest, starting on March 31, 2011. How much will each payment be?

a) $504,136

b) $173,056

c) $160,234

d) $109,052

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Accounting Basics: How much will each payment be
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