A company borrowed cash 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.Each annual payment equals $75,000.The present value of the note is:
A) $56,352.84.
B) $93,921,41.
C) $375,000.
D) $299,452.50.
E) $187,842.81.
Correct Answer:
Verified
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