The present value of an annuity at 8 for 5 years is 39927


Question - A company borrowed $300,000 csh from the bank by signing a 5-year, 8% installment note. The present value of an annuity at 8% for 5 years is 3.9927. Each annuity payment equals $75,137. Calculate the present value of the note.

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Accounting Basics: The present value of an annuity at 8 for 5 years is 39927
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