Question
On January 2, 2020, Novak Company borrowed $165,000 from Lyon Country Bank. The terms of the loan agreement specified 4 equal annual payments at 6%
On January 2, 2020, Novak Company borrowed $165,000 from Lyon Country Bank. The terms of the loan agreement specified 4 equal annual payments at 6% annual interest. Click here to view factor tables Compute the amount of each of these payments, assuming they begin on December 31, 2020. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)
| Periodic payments | $____________ |
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Principles of Financial Accounting
Authors: Belverd E. Needles, Marian Powers
12th edition
978-1133940562, 1133940560, 978-1285608464, 1285608461, 1133939287, 978-0357693605, 978-1285607047, 128560704X, 978-1133939283
