Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will pay of $8,264.70 at the end of each year. Halep's first interest payment is $1,200 with going to reduce the principal of the note.

Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will pay of $8,264.70 at the end of each year. Halep's first interest payment is $1,200 with going to reduce the principal of the