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TB MC Qu. B-45 (Algo) What amount can be borrowed ... What amount can be borrowed if seven semiannual payments of $3,400 are made at

TB MC Qu. B-45 (Algo) What amount can be borrowed ...

What amount can be borrowed if seven semiannual payments of $3,400 are made at an 8% annual rate of interest? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

Multiple Choice

  • $23,800.00

  • $21,896.00

  • $26,391.65

  • $20,407.14

  • $30,337.52

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