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Green Industries purchased a machine from Cyan Corporation on October 1, 2018. In payment for the $144,000 purchase, Green issued a one-year installment note to
Green Industries purchased a machine from Cyan Corporation on October 1, 2018. In payment for the $144,000 purchase, Green issued a one-year installment note to be paid in equal monthly payments at the end of each month. The payments include interest at the rate of 18%. Monthly installment payments are closest to:
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$13,201.
$12,000.
$13,007.
$12,668.
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