Register
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 for 7 years at 9% is 5.0330. The present value
234k views
2 votes
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 for 7 years at 9% is 5.0330. The present value of the loan is:

User Mandisa
by
5.3k points

1 Answer

2 votes

Answer:

The present value of the loan is $45,297

Step-by-step explanation:

Instalment (A)= $9,000.00

PV factor (B)= 5.033

Present value of loan (A x B)

=$ 45,297

User Gary Forbis
by
5.6k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

6.0m questions

7.9m answers

Other Questions

What are some ways you can save on car insurance?
Demonstrate how binomial nomenclature is related to classification systems by identifying the genus name and the specific name of the domestic cat felis catus
The dark printed words on the page of a book are easily read because they are printed on a light ground. this is an example of the principle of ____________.
On august 1 the darius co. purchased a photocopy machine for $8,000. the estimated annual depreciation on the machine is $1,680. if the company prepares annual financial statements on december 31, the
When president obama was elected, the u.s. economy was in trouble, and has slid into a recession. consumer spending was low and getting worse. in an effort to stop the decline, president obama proposed
Link Copied!