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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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Auditing And Assurance Services Plus Pearson MyLab Accounting With Pearson EText
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan
17th Global Edition
1292312106, 978-1292312101
