Question
On July 1, 2017 a company buys a delivery truck for $100,000 by taking out a note payable at 6% interest per year. The note
On July 1, 2017 a company buys a delivery truck for $100,000 by taking out a note payable at 6% interest per year. The note will be paid back with monthly payments over a six year period. The first monthly payment of $1,660 will be made on July 31, 2017.
How much interest will the company pay over the life of the loan?
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College Accounting
Authors: Heintz and Parry
20th Edition
1285892070, 538489669, 9781111790301, 978-1285892078, 9780538489669, 1111790302, 978-0538745192
