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Help PLEASE! 00 C&H Ski Club recently borrowed money and agreed to pay it back with a series of six annual payments of $20,000 each.
Help PLEASE!
00 C&H Ski Club recently borrowed money and agreed to pay it back with a series of six annual payments of $20,000 each. C&H subsequently borrows more money and agrees to pay it back with a series of four annual payments of $19,000 each. The annual Interest rate for both loans Is 6%. Find the present value of these two separate annuities. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use approprlate factor(s) from the tables provided. Round your answers to nearest whole dollar. Round "Table Factor" to 4 decimal places.) 4 points Skipped Number of Periods Interest Rate First Annuity Single Future Payment $ 20.000 x Table Factor Amount Borrowed 1 eBook 2 6% 20.000 x 3 20,000 x 0 First payment Second payment Third payment Fourth payment Fifth payment Sixth payment 6% 8% Hint 4 20.000 x 5 8% 20.000 x 0 6 6% 20.000 x = 0 Print References Number of Periods Table Factor Interest Rate 8% Amount Borrowed 1 09 Second Annuity Single Future Payment 19,000 x 19,000 x 19,000 x First payment Second payment Third payment NI 8% 3 6% 0 Fourth payment 4 8% 19.000 x s 0Step by Step Solution
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