RWP9-1 (Algo) Great Adventures Continuing Case (GL)

Tonys favorite memories of his childhood were the times he spent with his dad at camp. Tony was daydreaming of those days a bit as he and Suzie jogged along a nature trail and came across a wonderful piece of property for sale. He turned to Suzie and said, Ive always wanted to start a camp where families could get away and spend some quality time together. If we just had the money, I know this would be the perfect place. On November 1, 2025, Great Adventures purchased the land by issuing a $900,000, 6%, 10-year installment note to the seller. Payments of $9,992 are required at the end of each month over the life of the 10-year loan. Each monthly payment of $9,992 includes both interest expense and principal payments (i.e., reduction of the loan amount). Late that night, Tony exclaimed, We now have land for our new camp; this has to be the best news ever! Suzie said, Theres something else I need to tell you. Im expecting!