Question
36 Jackson has a loan that requires a $18,000 lump sum payment at the end of four years. The interest rate on the loan is
36
Jackson has a loan that requires a $18,000 lump sum payment at the end of four years. The interest rate on the loan is 5%, compounded annually. How much did Jackson borrow today? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)
Multiple Choice
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$17,100
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$14,400
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$12,181
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$14,809
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$16,245
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
