Accusoft Systems is offering small business owners a software package that keeps track of many accounting functions from bank transactions to sales invoices. The site license will cost $39,000 to install and will require a fee of $6000 every 3 months. If your company can save $13,500 every quarter and have the security of managing its books in-house, how long will it take for you to recover the investment at an interest rate of 10% per quarter?
What will be an ideal response?
0 = -39,000 + (13,500 – 6000)(P/A,10%,np)
(P/A,10%,np) = 5.2000
From 10% interest tables, np is between 7 and 8 quarters
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