Marsdon Company receives a six-year, $50,000 note that bears interest at 8% from a customer. The customer
Question:
Marsdon Company receives a six-year, $50,000 note that bears interest at 8% from a customer. The customer will make annual blended principal plus interest payments at the end of each year. What is the annual payment that Marsdon will receive from its customer?
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Using tables From Table PV2 n 6 i 8 the present value for a 1 payment annually is 462288 ...View the full answer
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Related Book For 
Principles Of Financial Accounting
ISBN: 9781118757147
1st Canadian Edition
Authors: Jerry J. Weygandt, Michael J. Atkins, Donald E. Kieso, Paul D. Kimmel, Valerie Ann Kinnear, Barbara Trenholm, Joan E. Barlow
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