Question

Cullumber Productions borrowed some money from the California Finance Company at a rate of 13.90 percent...

Cullumber Productions borrowed some money from the California Finance Company at a rate of 13.90 percent for a seven-year period. The loan calls for a payment of $1,253,000 each year beginning today. How much did Cullumber borrow? (Round factor values to 4 decimal places, e.g. 1.5214 and final answer to nearest whole dollar, e.g. 5,275.)

Cullumber borrowed
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Cullumber borrowed Annnual payment PFAD(13.9%,7) =1253000*4.8993

*Please rate thumbs up

Add a comment
Know the answer?
Add Answer to:
Cullumber Productions borrowed some money from the California Finance Company at a rate of 13.90 percent...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT