Problem
A machine costs $20,000 and has a 5 years useful life. At the end of 5 years it can be sold for $4000. If the annual interest rate is 8% compounded semiannually, what is the equivalent annual worth (Aw) and the present worth (Pw) of the machine?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.