Multiple Choice
HdG,Inc.accepts a $100,000,5% note from Aberdeen Unlimited on 4/1/16,and lends money to Aberdeen.Aberdeen agrees to pay 5 equal annual payments on this note beginning 3/31/17.The market rate at the date of issuance of this note was 5%.What is the annual payment that HdG will receive for this note?
A) $20,000
B) $23,097
C) $15,000
D) $24,743
Correct Answer:
Verified
Correct Answer:
Verified
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