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On January 2, 2017, Jermen Company borrowed $150,000 1mm Lyon Country Bank.

On January 2, 2017, Jermen Company borrowed $150,000 1mm Lyon Country Bank. The terms of the loan agreement speclfied 4- equal annual payments at 7% annual lnterest. (Use the below table.) PRESENT VALUE OF All DRDlNAFW ANNUITY OF 1 0!)
Periods 2% 214% 3% 4‘36 5% 6%
1 .98039 .97561 .97087 .96154 .95238 .94340
2 1.941 56 1.92742 1.91347 1.88039 1.85941 1.8339
3 2.88388 2.05602 2.82861 2.77509 2.72325 2.67301
4 3.80773 3.76197 3.71 710 3.62990 3.54595 3.46511
5 4.71346 4.84583 4.57971 4.45182 4.32948 4.21236
6 5.60143 5.50813 5.41719 5.24214 5.07569 4.91732
7 6.471 99 6.34939 5.23029 8.00205 5.78837 5.58238
8 7.32548- 7.17014 7.01969 6.73274 8.46321 6.20979
9 8.16224 7.97087 7.78611 7.43533 7.10732 8.80169
10 8.98259 8.75206 8.53020 8.11090 7.72173 7.36009
11 9.78685 9.51421 9.25262 8.76048 8.30841 7.86687
12 10.57534 10.25776 9.95400 9.38507 6.86325 838384
13 1 1.34637 10.98319 10.63496 9.98565 9.39357 8.85268
14 12.15 1 1.69091 11.29507 10.56312 9.89864 9.29498
15 12.84926 12.38138 11.93794 11.11%9 10.37966 [71225
18 13.57771 13.05500 12.56110 11.65230 10.83777 10.10590
17 14.29187 13.7130 13.16612 12.16567 11.27407 10.47726
18 14.99203 14.35316 13.75351 12.65930 11 .88959 10.82760
19 15.67846 14.971539 14.32380 13.13am. 12.08532 11.15312
20 16.35143 15.58916 14.87747 13.59033 12.43221 11.46992
21 17.01121 18.18455 15.41502 14.02916 12.92115 11.78408
22 17.65805 18.78541 15.93692 14.45112 13.16300 12.04158
23 18.29fl0 17.33211 16.44361 14.85634 13.48857 12.30338
24 18.91393 17.88499 16.93554 15.24696 13.79864 12.58336
25 19.52346 13.42438 17.41315 15‘08 14.09394 12.78336
26 20.12104 13.9mm 17.87664 15.98277 14.37519 13111317
27 20.70890 19.48401 18.32708 18.32959 14.64303 13.21053 on m Ian-0:1- an mum 4117:1144 «nan-ma 11 Damn 4-; AM“:

 
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