(Answered) Question - a company purchased equipment and signed a

Accounting

Question - 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% is 5.0330. The present value of a single sum factor for 7 years at 9% is 0.5470. The present value of the loan is:

$9,000.

$4,923.

$16,453.

$63,000.

$45,297.

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