2) To complete a project you can either buy a machine at the beginning of a 5 year period, or hire 5 employees at the be

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2 To Complete A Project You Can Either Buy A Machine At The Beginning Of A 5 Year Period Or Hire 5 Employees At The Be 1 (22.15 KiB) Viewed 9 times

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2) To complete a project you can either buy a machine at the beginning of a 5 year period, or hire 5 employees at the beginning of a 5 year period. Employee costs (salary and benefits) are $5,000 per employee at the end of each month for 5 years. Maintenance costs at the end of each month (including the last month) are 1% of the machine price, and you can sell the machine at the end of the 5 years for a total of $500,000. What is the maximum price that it makes sense to pay for the machine if effective monthly interest is j = 0.3%