Question
A company borrowed $42,900 cash from the bank and signed a 6 year note of 9% annual interest. The present value of an annuity factor
A company borrowed $42,900 cash from the bank and signed a 6 year note of 9% annual interest. The present value of an annuity factor for 6 years at 9% is 4.859. The present value of a single sum factor for 6 years at 9% is .5963. The annual annuity payments equal:
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Financial Accounting
Authors: Libby, Short
6th Edition
978-0071284714, 9780077300333, 71284710, 77300335, 978-0073526881
