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A company borrowed cash from the bank by signing a 7-year, 896 installment note. The present value of an annuity factor at 8% for 7

A company borrowed cash from the bank by signing a 7-year, 896 installment note. The present value of an annuity factor at 8% for 7 years is 5.2064. Each annual payment equals $69,145.67. The present value of the note is: O $69145.67. O $257,810.0o. O $88,02167. O$360,000.00. O $429145.67

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