The payback period is the amount of time required for a firm to dispose a replaced asset.
Indicate whether the statement is true or false
Question 2
Hayley makes annual end-of-year payments of 6,260.96 on a five-year loan with an 8 percent interest rate. The original principal amount was ________.
A) 31,000
B) 30,000
C) 25,000
D) 20,000
