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Exercise B-2(Algo) Present value of an amount LO P1 On January 1, a...

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Accounting

Exercise B-2(Algo) Present value of an amount LO P1
On January 1, a company agrees to pay $28,000 in ten years. If the annual interest rate is 1%, determine how much cash the company can borrow with this agreement. (PV of $1,FV of $1, PVA of $1, and FVA of $1)
Note: Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.
\table[[Future Value,,Table Factor,,Amount Borrowed],[,,,=?,]]
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