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C&H Ski Club recently borrowed money and agreed to pay it back with a series of six annual payments of $17,000 each. C&H subsequently
C&H Ski Club recently borrowed money and agreed to pay it back with a series of six annual payments of $17,000 each. C&H subsequently borrows more money and agrees to pay it back with a series of four annual payments of $9,000 each. The annual interest rate for both loans is 9%. Find the present value of these two separate annuities. (PV of $1. FV of $1. PVA of $1, and EVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to nearest whole dollar. Round "Table Factor" to 4 decimal places.) First Annuity Number of Interest Periods Rate Single Future Payment Table Factor First payment Second payment 1 9% $ 17,000 x Third payment 23 9% 17,000 x = 9% 17,000 x = Fourth payment 4 9% 17,000 x Fifth payment 5 9% 17,000 x Sixth payment 6 9% 17,000 x Second Annuity Number of Interest Single Future Table Factor Periods Rate Payment First payment 1 9% $ 9,000 = Second payment 2 9% 9,000 x Third payment 3 9% 9,000 x = Fourth payment 4 9% 9,000 Amount Borrowed Amount Borrowed
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