QUESTION 6 You have a 7-year loan of $80,000. The borrower will pay $8,500 at the end of Year 1, $9,500 at the end of Year 2, and $7,5 at the end of Year 3, plus X at the end of each year from Year 4 through Year 7. X is the fixed but unspecified cash flow. The loan's rate is 9%. What is X? $22,3617.01 O $21,954.25 O $23,350.31 O $19,411.02

QUESTION 6 You have a 7-year loan of $80,000. The borrower will pay $8,500 at the end of Year 1, $9,500 at the end of Year 2, and $7,5 at the end of Year 3, plus X at the end of each year from Year 4 through Year 7. X is the fixed but unspecified cash flow. The loan's rate is 9%. What is X? $22,3617.01 O $21,954.25 O $23,350.31 O $19,411.02

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 14P

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