Question
A company must repay the bank a single payment of $39,000 cash in 5 years for a loan it entered into. The loan is at
A company must repay the bank a single payment of $39,000 cash in 5 years for a loan it entered into. The loan is at 10% interest compounded annually. The present value factor for 5 years at 10% is .6209.The present value of an annuity factor for 5 years at 10% is 3.7908.The present value of the loan (rounded) is what
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Principles of Financial Accounting chapters 1-17
Authors: John Wild, Ken Shaw, Barbara Chiappetta
23rd edition
1259687740, 1259687747, 978-1259687747
