


Jason has a loan that requires a single payment of $4500 at the end of 4 years. The loan's interest rate is 10%, compounded semiannually. How much did Jason borrow? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables
provided.)
A. $3054.40
B. $3356.40
C. $4500.00
D. $3045.60
E. $4472.40
Answer: D
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