Business, 06.08.2021 16:00 Knownothing

A company borrowed $50,000 cash from the bank and signed a 6-year note at 7%. The present value factor for an annuity for 6 years at 7% is 4.7665. The annual annuity payments equal $10,490. The present value of the loan is: a) $10,490
b) $11,004
c) $50,000
d) $52,450
e) $238,325

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A company borrowed $50,000 cash from the bank and signed a 6-year note at 7%. The present value fact...

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