A Company Borrows $10,000 and Issues a 5-Year,6% Installment Note

question 129

True/False

A company borrows $10,000 and issues a 5-year,6% installment note with interest payable annually.The factor for the present value of an annuity at 6% for 5 years is 4.2124.The factor for the present value of a single sum at 6% for 5 years is 0.7473.The present value of the interest payments is $2,527.44.

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Definitions:

HR Forecasting

The process used by human resources to estimate the future demand and supply of employees needed to achieve the company's objectives.

Human Resources

The department within an organization responsible for hiring, administering benefits, and managing employee relations.

Personnel Planning

The process of determining an organization's future personnel needs and developing strategies to meet those needs.

Business Goals

Specific objectives that an organization or business aims to achieve over a certain period to ensure growth, profitability, and sustainability.