Accenture Corporation borrowed $300,000 from the bank by signing a 5-year,8% installment note.The present value of an annuity factor at 8% for 5 years is 3.9927.To the nearest dollar,the annual payment is
A) $24,000
B) $19,964
C) $37,500
D) $60,000
E) $75,137
Correct Answer:
Verified
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