A Company borrowed money from a local bank. The note the company signed requires five annual...

Transcribed Image Text:

A Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $10,000 beginning one year from today. The interest rate on the note is 7% What amount did the company borrow? Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount. (EV of $1. PV of $1. FVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) Table, Excel, or calculator function: Payment: Present Value: n= A Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $10,000 beginning one year from today. The interest rate on the note is 7% What amount did the company borrow? Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount. (EV of $1. PV of $1. FVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) Table, Excel, or calculator function: Payment: Present Value: n=