Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. saved help save & exit submit a company must r

Saved Help Save & Exit Submit A company must repay the bank a single payment...

90.2K

Verified Solution

Question

Accounting

image
image
Saved Help Save & Exit Submit A company must repay the bank a single payment of $37,000 cash in 5 years for a loan it entered into. The loan is at 6% interest compounded annually. The present value of 1 (single sum) at 6% for 5 years is 7473. The present value of an annuity (series of payments) at 6% for 5 years is 4.2124. The present value of the loan (rounded) is: Multiple Choice $27,650. $155,859. $37,000. $41,326. $8,784

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students