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E7-43. Applying Time Value of Money Concepts Fulton Corporation purchases new manufacturing facilities and assumes a 10-year mortgage of $4 mil- lion. The annual interest
E7-43. Applying Time Value of Money Concepts Fulton Corporation purchases new manufacturing facilities and assumes a 10-year mortgage of $4 mil- lion. The annual interest rate on the mortgage is 5.5% and payments are due at the end of each year. a. Determine the mortgage payment that Fulton Corporation must make each year. b. Use Excel to prepare a mortgage amortization schedule for the 10 years. c. At the end of the first year, what amount will Fulton include as current maturities of long-term debt" on its balance sheet
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