What time value of money factor

Reference no: EM13145648

On May 1, 2010, a company purchased a new machine which it does not have to pay for until May 1, 2012. The total payment on May 1, 2012 will include both principal and interest. Assuming interest at 10% rate, the cost of the machine would be the total payment multiplied by what time value of money factor?

Reference no: EM13145648

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