| $94,013.13. | |
| $197,810.00. | |
| $75,137.13. | |
| $375,137.13. | |
 | $300,000.00. |
$75,137.13 x 3.9927 = $300,000
Wednesday, March 13, 2013
Accounting Midterm Exam ACG-2011: Question 77
A company borrowed cash 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 $75,137.13. The present value of the note is (closest to):
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