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What would be the amount of each of these payments

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Question - On January 2, 2017, Jensen Company borrowed $197,000 from Lyon Country Bank. The terms of the loan agreement specified 4 equal annual payments at 6% annual interest. Using the present value of an ordinary annuity of 1, what would be the amount of each of these payments, assuming that they begin on December 31, 2017?

Reference no: EM132559178

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