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On January 1 , a company agrees to pay $ 1 0 , 0 0 0 in eight years. If the annual interest rate is

On January 1, a company agrees to pay $10,000 in eight years. If the annual interest rate is 5%, determine how much cash the company can borrow with this agreement. (PV of $1, FV of $1, PVA of $1, and FVA of $1)

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