Multiple Choice
A company purchased equipment and signed a seven-year installment loan at 9% annual interest.The annual payments equal $9,000.The present value factor for an annuity for seven years at 9% is 5.0330.What value for this equipment should be recorded on the company's books on the day the contract is signed?
A) $9,000
B) $5,033
C) $63,000
D) $57,330
E) $45,297
Correct Answer:
Verified
Correct Answer:
Verified
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