 | $45,297. |
| $5,033. | |
| $63,000. | |
| $9,000. | |
| $57,330. |
$9,000 x 5.0330= $45,297
Wednesday, March 13, 2013
Accounting Midterm Exam ACG-2011: Question 92
A company purchased equipment and signed a 7-year installment loan at 9% annual interest. The annual payments equal $9,000. The present value of an annuity for 7 years at 9% is 5.0330. The present value of the loan is:
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