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Consider the following loan schedule: Payment ($) Interest ($) Principal ($) Balance ($) 30 June 2018 500,000 30 June 2019 100,000 45,000 55,000 445,000 30

Consider the following loan schedule:

Payment ($) Interest ($) Principal ($) Balance ($)
30 June 2018 500,000
30 June 2019 100,000 45,000 55,000 445,000
30 June 2020 100,000 40,050 59,950 385,050
30 June 2021 100,000 34,655 65,346 319,705
30 June 2022 100,000 28,773 71,227 248,478
30 June 2023 100,000 22,363 77,637 170,841

State the amount that would be disclosed as an expense for the year ended 30/6/2021.

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