Question
On December 31, Son-Nan Chen Borrowed $90,000 agreeing to repay this sum in 21 equal end- of year- installments and 18 percent interest on declining
On December 31, Son-Nan Chen Borrowed $90,000 agreeing to repay this sum in 21 equal end- of year- installments and 18 percent interest on declining balance. How large must the annual payment be?
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Core Concepts Of Accounting Information Systems
Authors: Mark G. Simkin, Carolyn A. Strand Norman, Scott Paquette
1st Canadian Edition
1118738101, 978-1118738108
