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Can someone please help me with this question, I forgot how to calculate installment payments On December 1, 2016, Gardner Products borrowed $90,000 on a
Can someone please help me with this question, I forgot how to calculate installment payments
On December 1, 2016, Gardner Products borrowed $90,000 on a 8%, 8 - year note with annual installment payments of $11 ,250 plus interest due on December 1 of each subsequent year. Which of the following describes the first installment payment made on December 1 , 2017? (Round your answer to the nearest whole number.) o o o O A. B. C. D. $11 ,250 principal plus $900 interest $11 ,250 principal plus $11 ,250 interest $11 ,250 principal plus $7 ,200 interest $7 ,200 interest only
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