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QUESTION
A company must repay the bank a single payment of $19,000 cash in 4 years for a loan it entered into. The loan is at 8% interest compounded annually....
A company must repay the bank a single payment of $19,000 cash in 4 years for a loan it entered into. The loan is at 8% interest compounded annually. The present value factor for 4 years at 8% is 0.7350. The present value of the loan (rounded) is:
