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Only do a and b The company issues a note to a customer to borrow cash for six years, and will pay $600,000 to the

Only do a and b

The company issues a note to a customer to borrow cash for six years, and will pay $600,000 to the customer at the end of the six-year period but not pay any interest. If the annual market interest rate is 5%, please calculate the present value of the note (compounded annually and rounded to the nearest dollar).

a Based on Part 1, if the company will pay $600,000 at the end of the six-year period, and interest $24,000 at the end of each of the six years, please calculate the present value of the note (rounded to the nearest dollar).

b. Based on Part 1, if the company will pay $600,000 at the end of the six-year period, and interest $24,000 at the endof each of the last five years (the second to sixth year), please calculate the present value of the note (rounded to the nearest dollar).

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