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Betty DeRose, Inc. borrowed $170,000 on January 1, 2024. The terms of the loan require Betty DeRose to make semi-annual payments of $23,000 every

Betty DeRose, Inc. borrowed $170,000 on January 1, 2024. The terms of the loan require Betty DeRose to make semi-annual payments of $23,000 every June 30 and December 31, with the first payment being due on June 30, 2024. Assume the loan has an interest rate of 20%, compounded semi-annually. Calculate the note payable account balance at June 30, 2024 after the first loan payment has been made.

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