Question
A company borrowed cash from the bank by signing a 6-year, 8% installment note. The present value of an annuity factor at 8% for 6
A company borrowed cash from the bank by signing a 6-year, 8% installment note. The present value of an annuity factor at 8% for 6 years is 4.6229. The present value of a single sum at 8% for 6 years is .6302. Each annual payment equals $75,100. The present value of the note is:
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A Guide To Risk Based Internal Audit System In Banks
Authors: CA Shiva Chaudhari
1st Edition
1947498649, 978-1947498648
