Multiple Choice
A company borrowed $40,000 cash from the bank and signed a 6-year note at 7% annual interest.The present value of an annuity factor for 6 years at 7% is 4.7665.The annual annuity payments equal:
A) $10,489.88.
B) $8,391.91.
C) $40,000.00.
D) $52,450.00.
E) $190,660.00.
Correct Answer:
Verified
Correct Answer:
Verified
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