Canliss Mining Company borrowed money from a local bank. The note the company signed requires five...
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Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $16,500 beginning one year from today. The interest rate on the note is 7%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What amount did Canliss borrow? (Round your final answers to nearest whole dollar amount.) Table or calculator function: Payment n= Present Value: Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $16,500 beginning one year from today. The interest rate on the note is 7%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What amount did Canliss borrow? (Round your final answers to nearest whole dollar amount.) Table or calculator function: Payment n= Present Value:
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Table or Calculation function Payment 16500 n 5 i 7 ... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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