A company borrowed cash from the bank by signing a 6-year, 6% installment note. The present value of an annuity

A company borrowed cash from the bank by signing a 6-year, 6% installment note. The present value of an annuity factor at 6% for 6 years is 4.9173. The present value of a single sum at 6% for 6 years is .7050. Each annual payment equals $75,400. The present value of the note is:

Leave a Reply

Your email address will not be published. Required fields are marked *