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On January 1 , 2016, MT Company borrows $150,000 by signing a four-year, 8% installment note. The note requires four equal payments of $45,288.12, consisting
On January 1 , 2016, MT Company borrows $150,000 by signing a four-year, 8% installment note. The note requires four equal payments of $45,288.12, consisting of accrued interest and principal on December 31 of each year from 2016 through 2019. Prepare an amortization table for this installment note. Refer to Exhibit 14.12 in the textbook for guidance
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