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i need some explanation (worked them out please) on all of these solutions. 9. Installment Note Example: On January 1, 2021, purchased land costing $800,000.
i need some explanation (worked them out please) on all of these solutions. 9. Installment Note Example: On January 1, 2021, purchased land costing $800,000. Instead of paying cash at the time of purchase, Jalen plans to make four installment payments of $215,221.64 on June 30 and December 31 in 2024 and 2025. The payment includes interest at a rate of 6%. On January 1, 2024, Rosemont Corporation borrowed \$14 million from a local bank to construct a new building over the next three years. The loan will be paid back in three equal installments of $5,432,469 on December 31 of each year. The payments include interest at a rate of 8%. Fill in the loan amortization table for the first two payments
i need some explanation (worked them out please) on all of these solutions.
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