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Business, 20.09.2020 14:01 noahprice0519

A company must repay the bank a single payment of $35,000 cash in 3 years for a loan it entered into. The loan is at 6% interest compounded annually. The present value of 1 (single sum) at 6% for 3 years is .8396. The present value of an annuity (series of payments) at 6% for 3 years is 2.6730. The present value of the loan (rounded) is:

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A company must repay the bank a single payment of $35,000 cash in 3 years for a loan it entered into...

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