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What the annual annuity payments equal

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Problem 1: A company borrowed $40,800 cash from the bank and signed a 5-year note at 6% annual interest. The present value of an annuity factor for 5 years at 6% is 4.2124. The present value of a single sum factor for 5 years at 6% is .7473. The annual annuity payments equal:

A.40800
B.171865.92
C.9685.69
D.30489.84
E.54596.55

Reference no: EM132736728

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