A company borrows $60,000 by signing a $60,000, 8%, 6-year note that requires equal payments of $12,979 at the end of each year. The first

payment will record interest expense of $4,800 and will reduce principal by ____

what is the process for this question?

A company borrows $60,000 by signing a $60,000,8%,6 year note that requires equal payments of $12,979 at the end of each year. The first payment will record interest expense of $4,800 and will reduce principol by $ glank 1