A company borrowed 300000 cash from the bank by signing a

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A company borrowed $300,000 cash from the bank by signing a five-year, 8% installment note. The present value factor for an annuity at 8% for five years is 3.9927. Each annuity payment equals $75,137. How much cash did the company receive from the bank on the day they borrowed this money?

Reference no: EM13589375

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