Question
Pronghorn Corp borrowed $1620000 from National Bank on May 31, 2019. The 3-year, 7% note required annual payments of $617304 beginning May 31, 2020. The
Pronghorn Corp borrowed $1620000 from National Bank on May 31, 2019. The 3-year, 7% note required annual payments of $617304 beginning May 31, 2020. The total amount of interest to be paid over the life of the loan is
| a. | $231912. |
| b. | $452532. |
| c. | $340200. |
| d. | $113400. |
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Auditing
Authors: Timothy J. Ph.D. Robertson, Jack C.; Louwers
9th Edition
0072906952, 9780072906950
