Multiple Choice
On January 1,20A,Ross Company acquired a truck that had a purchase price of $20,000.The seller agreed to allow Ross to pay for the truck over a two-year period at 10% interest with equal payments due at the end of 20A and 20B.What is the amount of each annual payment the company must make (round to the nearest dollar) ?
A) $11,524
B) $14,151
C) $17,751
D) $22,267
Correct Answer:
Verified
Correct Answer:
Verified
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