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What time value of money factor

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On Dec 1, 2020, a company purchased a new machine which it does not have to pay for until Dec 1, 2022. The total payment on Dec 1, 2022 will include both principle and interest. Assuming interest at a 10% rate, the cost of the mahine would be the total payment multiplied by what time value of money factor?

Reference no: EM132420691

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