Exercise B-13 (Algo) Present value of an amount and of an annuity LO P1, P3 Compute...

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Exercise B-13 (Algo) Present value of an amount and of an annuity LO P1, P3 Compute the amount that can be borrowed under each of the following circumstances: (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round your "Table value" to 4 decimal places.) 1. A promise to repay $96,000 six years from now at an interest rate of 7%. 2. An agreement made on February 1, 2021, to make three separate payments of $24,000 on February 1 of 2022, 2023, and 2024. The annual interest rate is 10%. Option 1 Loan amount Option 2 Annual payments Table Value Table Value Amount Amount $ $ Present Value Present Value 0 0 Exercise B-13 (Algo) Present value of an amount and of an annuity LO P1, P3 Compute the amount that can be borrowed under each of the following circumstances: (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round your "Table value" to 4 decimal places.) 1. A promise to repay $96,000 six years from now at an interest rate of 7%. 2. An agreement made on February 1, 2021, to make three separate payments of $24,000 on February 1 of 2022, 2023, and 2024. The annual interest rate is 10%. Option 1 Loan amount Option 2 Annual payments Table Value Table Value Amount Amount $ $ Present Value Present Value 0 0

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