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A company must repay the bank 42000 cash in five years for

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A company must repay the bank $42,000 cash in five years for a loan. The loan agreement specifies 7% interest compounded annually. The present value factor for five years at 7% is 0.7130. How much cash did the company receive from the bank on the day they borrowed this money?

Reference no: EM13592787

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