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Assume that a machine was purchased for $540,000. Cash of $180,000 was paid, and a four-year, 8% note payable was signed for the balance. e-4.
Assume that a machine was purchased for $540,000. Cash of $180,000 was paid, and a four-year, 8% note payable was signed for the balance. e-4. Prepare the horizontal model, to show the equal annual payments of principal and interest due at the end of each year. (Use amounts with + for increases and amounts with - for decreases.)
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