Sami 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:
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