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Compute the amount that can be borrowed under each of the following circumstances: (PV of $1. FV of $1. PVA of $1. and EVA 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 seven years from now at an interest rate of 8%. 2. An agreement made on February 1, 2019, to make three separate payments of $10,000 on February 1 of 2020, 2021, and 2022. The annual interest rate is 5%. Option 1 Loan amount Option 2 Annual payments Table Value Table Value Amount Amount Present Value Present Value

Compute the amount that can be borrowed under each of the following circumstances: (PV of $1. FV of $1. PVA of $1. and EVA 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 seven years from now at an interest rate of 8%. 2. An agreement made on February 1, 2019, to make three separate payments of $10,000 on February 1 of 2020, 2021, and 2022. The annual interest rate is 5%. Option 1 Loan amount Option 2 Annual payments Table Value Table Value Amount Amount Present Value Present Value

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Compute the amount that can be borrowed under each of the following circumstances: (PV of $1. FV of $1. PVA of $1, and EVA 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 seven years from now at an interest rate of 8%. 2. An agreement made on February 1, 2019, to make three separate payments of $10,000 on February 1 of 2020, 2021, and 2022. The annual interest rate is 5%. Option 1 Loan amount Option 2 Annual payments Table Value Table Value Amount Amount Present Value Present Value
Transcribed Image Text:Compute the amount that can be borrowed under each of the following circumstances: (PV of $1. FV of $1. PVA of $1, and EVA 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 seven years from now at an interest rate of 8%. 2. An agreement made on February 1, 2019, to make three separate payments of $10,000 on February 1 of 2020, 2021, and 2022. The annual interest rate is 5%. Option 1 Loan amount Option 2 Annual payments Table Value Table Value Amount Amount Present Value Present Value
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