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Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $12,500 beginning one year from today. The interest rate on the note is 9%. (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?
TABLE OR CALCULATOR FUNCTION...?
PAYMENT...?
N=...?
I=...?
PRESENT VALUE...?
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Canliss Mining Company borrowed money from a local bank. The note the company signed requires five a...
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