Ted paid 73600 to receive 10000 at the beginning of each, Ask an Expert

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Ted paid $73,600 to receive $10,000 at the beginning of each year for ten years. This would repay the principal plus 6% interest. What difference does it make whether the contract is treated as an annuity as compared to an original issue discount instrument

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Accounting Basics, Accounting

Category:- Accounting Basics
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