What is the present value of a 9 mil notes payable due in 4 years at...
What is the present value of a 9 mil notes payable due in 4 years at 12% interest payable annually?
Homework Answers
ANSWER:
Present value of single sum = single sum x PVF
= $9,000,000 x 0.6355
= $5,719,500
where,
PVF(12%, 4) = 0.6355
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