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Bear Co has a customer that signs a noninterest - bearing note, promising to pay the company $ 1 1 9 , 1 0 1
Bear Co has a customer that signs a noninterestbearing note, promising to pay the company $ in three years. The payment amount is based on an annual interest rate of which the company believes is appropriate, resulting in the present value of the note of $times $ The present value of an annuity due is $ $
How did they calculate the answers for the present value of the note $ and the present value of the annuity due$
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