Item 5 Item 5 Present and future value tables of $1 at 11%...
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Accounting
Item 5
Item 5
Present and future value tables of $1 at 11% are presented below.
PV of $1
FV of $1
PVA of $1
FVA of $1
1
0.90090
1.11000
0.90090
1.0000
2
0.81162
1.23210
1.71252
2.1100
3
0.73119
1.36763
2.44371
3.3421
4
0.65873
1.51807
3.10245
4.7097
5
0.59345
1.68506
3.69590
6.2278
6
0.53464
1.87041
4.23054
7.9129
Spielberg Inc. signed a $280,000 noninterest-bearing note due in five years from a production company eager to do business. Comparable borrowings have carried an 11% interest rate. What is the value of this debt at its inception?
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