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Required information Problem 9-2A (Algo) Prepare amortization schedule and record installment notes (LO9-2) [The following information applies to the questions displayed below.] On January 1,
Required information Problem 9-2A (Algo) Prepare amortization schedule and record installment notes (LO9-2) [The following information applies to the questions displayed below.] On January 1, 2024, Rosemont Corporation borrowed $31 million from a local bank to construct a new building over the next three years. The loan will be paid back in three equal installments of $12,465,559 on December 31 of each year. The payments include interest at a rate of 10%. roblem 9-2A (Algo) Part 2 Prepare an amortization schedule over the three-year life of the installment note. (Round your final answers to the nearest dollar mount.)
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