Question
Sandusky Company borrowed $10,000 from the Lakeside Bank by issuing a 10% three-year installment note. Sandusky agreed to repay the principal and interest by making
Sandusky Company borrowed $10,000 from the Lakeside Bank by issuing a 10% three-year installment note. Sandusky agreed to repay the principal and interest by making annual payments in the amount of $4,021.15. Based on this information, the amount of the interest expense associated with the second payment would be: (round your answer to the nearest dollar)
| A. | $365. |
| B. | $698. |
| C. | $1,000. |
| D. | $821. |
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Easyinvoice Invoice Billing Receiption Accounting Make It Easy
Authors: Thian Thima
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