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Present and future value tables of $1 at 3% are presented below: N 1 2...

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Accounting

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Present and future value tables of $1 at 3% are presented below: N 1 2 3 4 FV $1 1.03000 1.06090 1.09273 1.12551 1.15927 1.19405 FVA $1 1.0000 2.0300 3.0909 4.1836 FVAD $1 1.0300 2.0909 3.1836 4.3091 5.4684 6.6625 5 5.3091 6.4684 6 7 1.22987 7.6625 7.8923 PV $1 0.97087 0.94260 0.91514 0.88849 0.86261 0.83748 0.81309 0.78941 0.76642 0.74409 0.72242 0.70138 0.68095 0.66112 0.64186 8 9 1.26677 1.30477 1.34392 1.38423 9.1591 10.4639 PVA $1 0.97087 1.91347 2.82861 3.71710 4.57971 5.41719 6.23028 7.01969 7.78611 8.53020 9.25262 9.95400 10.63496 11.29607 11.93794 12.56110 PVAD $1 1.00000 1.97087 2.91347 3.82861 4.71710 5.57971 6.41719 7.23028 8.01969 8.78611 9.53020 10.25262 10.95400 11.63496 12.29607 12.93794 8.8923 10.1591 11.4639 12.8078 14.1920 15.6178 17.0863 10 11 12 1.42576 13 11.8078 13.1920 14.6178 16.0863 17.5989 19.1569 20.7616 1.46853 1.51259 1.55797 1.60471 14 15 18.5989 20.1569 16 0.62317 Micro Brewery borrows $340,000 to be paid off in seven years. The loan payments are semiannual with the first payment due in six months, and interest is at 6%. What is the amount of each payment? Multiple Choice $24,286. $29,222 O O $25,015. o $30,099

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