A company borrowed $50,000 cash from the bank and signed a 6-year note at 7%. The present value of an annuity for 6 years at 7% is 4.7665. The annual annuity payments equal:
A) $10,489.88.
B) $11,004.88.
C) $50,000.00.
D) $52,450.00.
E) $238,325.00.
Correct Answer:
Verified
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