On January 1, a company agrees to pay $28,000 in four years. If the annual interest rate is 5%, determine how much cash the company can borrow with this agreement.  (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.)

(Future Value/Table Factor/Amount Borrowed)

Answer rating: 100% (QA)

To determine how much cash the company can borrow with this agreement we need to calculate ... View the full answer