Multiple Choice
Chancellor Ltd. sells an asset with a $1 million fair value to Sophie Inc. Sophie agrees to make six equal payments, each to be paid one year apart, commencing on the date of sale. The payments include principal and 6% annual interest. Compute the annual payments.
A) $166,651.
B) $135,252.
C) $203,351.
D) $191,852.
Correct Answer:
Verified
Correct Answer:
Verified
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