Question: Brief Exercise 5-17 (Static) Present value; annuity due; installment notes (LO5-8, 5-10] A Company borrowed money from a local bank. The note the company

Brief Exercise 5-17 (Static) Present value; annuity due; installment notes (LO5-8, 5-10] A Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $10,000 beginning immediately. The interest rate on the note is 7%. What amount did the company borrow? Note: Use tables, Excel, or a financial calculator. (EV of $1. PV of $1. EVA of $1, PVA of $1, EVAD of $1 and PVAD of $1) Table, Excel, or calculator function: Payment: Present Value:

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