Question
Jackson has a loan that requires a $17,100 lump sum payment at the end of four years. The interest rate on the loan is 5%,
Jackson has a loan that requires a $17,100 lump sum payment at the end of four years. The interest rate on the loan is 5%, compounded annually. How much did Jackson borrow today? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)
Multiple Choice
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$13,680
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$16,245
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$14,068
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$11,572
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$15,433
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Cost Benefit Analysis Concepts And Practice
Authors: Anthony E. Boardman, David H. Greenberg, Aidan R. Vining, David L. Weimer
5th Edition
1108401295, 978-1108401296
