Question
20. On January 1, 2023, STU Corporation obtained a $52,000, 4-year, 6.5% instalment note payable from National Bank. The note requires annual payments consisting of
20. On January 1, 2023, STU Corporation obtained a $52,000, 4-year, 6.5% instalment note
payable from National Bank. The note requires annual payments consisting of $15,179
( principal and interest ) beginning on December 31st, 2023. The December 31st, 2023
principal balance ( after the first payment ) will be equal to:
A. $27,635
B. $40,201
C. $36,821
D. $48,620
E. None of the above.
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Survey Of Accounting
Authors: Carl S. Warren
4th Edition
0538478144, 9780538478144
