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A company borrowed $50,000 cash from the bank and signed a 6-year note at 7%. The present value factor for an annuity for 6 years at 7% is 4.7665. The annual annuity payments equal $10,490. The present value of the loan is:

$10,490
$11,004
$50,000
$52,450
$238,325

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9795770

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