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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: Question 8 options: A-$9,000. B-$5,033. C-$63,000. D-$57,330. E-$45,297.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9943905

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