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A company borrowed cash from the bank and signed a 6-year note at 7% annual interest. The present value for an annuity (series of payments)

A company borrowed cash from the bank and signed a 6-year note at 7% annual interest. The present value for an annuity (series of payments) at 7% for 6 years is 47665. The present value of 1 (single sum) at 7% for 6 years is 0.6663. Each annual payment equals $10,200. The present value of the note is

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Mathematical Applications for the Management Life and Social Sciences

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