Business, 27.08.2020 14:01, reecedstceklein

A company purchased equipment and signed a 6-year installment loan at 8% annual interest. The annual payments equal $9,400. The present value of an annuity factor for 6 years at 8% is 4.6229. The present value of a single sum factor for 6 years at 8% is .6302. The present value of the loan is:. a. $9,400.
b. $5,924.
c. $14,916.
d. $56,400.
e. $43,455.

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A company purchased equipment and signed a 6-year installment loan at 8% annual interest. The annual...