Question
A company borrowed cash from the bank and signed a 6-year note at 6% 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 6% annual interest. The present value for an annuity (series of payments) at 6% for 6 years is 4.9173. The present value of 1 (single sum) at 6% for 6 years is 0.7050. Each annual payment equals $8,800. The present value of the note is:
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Advanced Quality Auditing
Authors: Lance B. Coleman
1st Edition
087389913X, 978-0873899130
