Question
A company borrowed cash from the bank and signed a 3-year note at 10% annual interest. The present value for an annuity (series of payments)
A company borrowed cash from the bank and signed a 3-year note at 10% annual interest. The present value for an annuity (series of payments) at 10% for 3 years is 2.4869. The present value of 1 (single sum) at 10% for 3 years is 0.7513. Each annual payment equals $8,600. The present value of the note is:
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Information Technology Control And Audit
Authors: Angel R. Otero
5th Edition
1498752284, 9781498752282
