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On December 31, 20x2, a wealthy businessman agreed to lend Sweeney Ltd. $125817 as a note. The amount is payable in equal installments on December
On December 31, 20x2, a wealthy businessman agreed to lend Sweeney Ltd. $125817 as a note. The amount is payable in equal installments on December 31, beginning December 31, 20x3. The following information relating to this note is presented below:
Ending balance of loan, Dec. 31, 20x3 | $108972 |
Interest portion of installment payment made on Dec. 31, 20x3 | $5896 |
What was the total installment payment made by Sweeney Ltd. on December 31, 20x3 relating to this note?
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