A $30,000, 8%, 10-year note payable that pays interest quarterly would be discounted back to its present value by using tables that would indicate which one of the following period-interest combinations?

Question

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The note pays interest quarterly, so there are 40 periods (10 years x 4 quarters). The annual interest rate is 8%, so the quarterly rate is 2% (8% / 4).

A $30,000, 8%, 10-Year Note Payable That Pays Interest Quarterly