A company borrowed cash from the bank and signed a 6-year note at 7% annual interest. The present value for an annuity (series of payments) at 7% for 6 years is 4.7665. The present value of 1 (single sum) at 7% for 6 years is 0.6663. Each annual payment equals $8,400. The present value of the note is:
+1
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A company borrowed cash from the bank and signed a 6-year note at 7% annual interest. The present value for an annuity (series of payments) ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Home » Business » A company borrowed cash from the bank and signed a 6-year note at 7% annual interest. The present value for an annuity (series of payments) at 7% for 6 years is 4.7665. The present value of 1 (single sum) at 7% for 6 years is 0.6663.