Assuming a bank loan requires an interest payment of 85$ per year and a principal payment of $1,000 at the end of the loan 8 years life.what would be the present value if loan carried an 8.5% interest rate ? $1,546  $1,200 $1,000 $1,100

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A: Thanks for the question :)And your upvote will be really appreciable ;) last option

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A: Solution

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