Multiple Choice
A company purchased equipment and signed a 7-year installment loan at 9% annual interest. The annual payments equal $9,000. The present value of an annuity factor for 7 years at 9% is 5.0330. The present value of the equipment and loan is:
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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