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A company purchased equipment and signed a 6-year installment loan at 8% annual interest. The annual payments equal $9400. The present value for an annuity
A company purchased equipment and signed a 6-year installment loan at 8% annual interest. The annual payments equal $9400. The present value for an annuity (series of payments) at 8% for 6 years is 4.6229. The present value of 1 (single sum) for 6 years at 8% is 0.6302. The present value of the loan is
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
