Prof Inc borrowed $200,000 from the bank and signed a 6-year note at 8%. The present value of an annuity factor for 6 years at 8% is 4.6229. To the nearest dollar, the annual payment is:
A) $33,333.
B) $45,827.
C) $41,960.
D) $28,599.
E) $43,263.

Question

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The Answer of Prof Inc borrowed $200,000 from the bank and signed a 6-year note at 8%. The present value of an annuity factor for 6 years at 8% is 4.6229. To the nearest dollar, the annual payment is:
A) $33,333.
B) $45,827.
C) $41,960.
D) $28,599.
E) $43,263.

Prof Inc Borrowed $200,000 from the Bank and Signed a 6-Year