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Current Attempt in Progress Swifty Incorporated provides solar energy services to Toronto. Swifty needed to buy additional solar energy panels to meet the demand

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Current Attempt in Progress Swifty Incorporated provides solar energy services to Toronto. Swifty needed to buy additional solar energy panels to meet the demand for its energy product. The Government of Ontario offered an interest-free forgivable loan to Swifty in the amount of $350,000. The loan will be forgiven if Swifty is able to produce a stated number of kilowatts of energy per year for the next five years. If these conditions are not met, the amount is due to the government in full in five years. Swifty believes it will be able to meet the conditions. Swifty recently obtained a similar loan from the bank with an annual interest rate of 12%. 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 The

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