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A company must repay the bank $70,000 cash in 3 years for a loan it entered into. The loan is at 10% interest compounded annually.

A company must repay the bank $70,000 cash in 3 years for a loan it entered into. The loan is at 10% interest compounded annually. The present value factor for 3 years at 10% is .7513. The present value of the loan is: $17,409 $52,591 $70,000 $122,591 $2,100

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