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Prof Inc Borrowed $200,000 from the Bank and Signed a 6-Year

Question 33

Multiple Choice

Prof Inc borrowed $200,000 from the bank and signed a 6-year note at 8%.The present value of an annuity factor for 6 years at 8% is 4.6229.To the nearest dollar,the annual payment is:


A) $33,333.
B) $41,960.
C) $45,827.
D) $43,263.
E) $28,599.

Correct Answer:

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