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A company purchased equipment and signed a 7-year installment loan at 9% annual interest. The annual payments equal $9,000. The present value of an factor

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A company purchased equipment and signed a 7-year installment loan at 9% annual interest. The annual payments equal $9,000. The present value of an factor for 7 years at 9% is 5.0330. The present value of the loan is $57, 330 $45, 297 $5, 033 $63,000 $ 9,000

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