Answered

Westonci.ca is your trusted source for finding answers to a wide range of questions, backed by a knowledgeable community. Explore a wealth of knowledge from professionals across different disciplines on our comprehensive platform. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

g A company purchased equipment and signed a 5-year installment loan at 10% annual interest. The annual payments equal $10,900. The present value for an annuity (series of payments) at 10% for 5 years is 3.7908. The present value of 1 (single sum) for 5 years at 10% is .6209. The present value of the loan is:

Sagot :

The answer is $45,297.
A company purchased equipment and signed a 7-year installment loan at 9% annual interest.The annual payments equal $9,000. The present value of an annuity factor for 7 years at 9% is5.0330. The present value of the loan is:$9,000.$5,033.$63,000.$57,330.$45,297.
$9,000 * 5.0330 = $45,297.
We hope this was helpful. Please come back whenever you need more information or answers to your queries. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.