Question
Cullumber Company receives a six-year, $52,000 note that bears interest at 8% (paid annually) from a customer at a time when the market interest rate
Cullumber Company receives a six-year, $52,000 note that bears interest at 8% (paid annually) from a customer at a time when the market interest rate is 6%. What is the present value of the note received by Cullumber? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to 2 decimal places, e.g. 5,275.25.) Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1.
| Value of note received | $enter the Value of note received in dollars rounded to 2 decimal places |
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Cima Official Exam Practice Kit Test Of Professional Competence In Management Accounting 2008 Edition
Authors: Geoffrey Little
4th Edition
0750686804, 978-0750686808
