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On may 1, 2017, a company purchased a new machine which it does not have to pay for until may 1, 2019. the total payment on may 1, 2019 will include both principal and interest. assuming interest at a 10% rate, the cost of the machine would be the total payment multiplied by what time value of money factor?

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Erudite1
The cost of the machine would be the total payment multiplied by PRESENT VALUE OF 1. Money factor refers to the method used to present the amount of interest charged on a product. The money factor is often calculated as the annual interest rate divided by 2400.

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