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Terms: Borrowed $30,000, by signing a 5 year installment note with 5% interest and annual payments of $6,929.24. Period Cash Payment Interest Expense Reduction of

Terms: Borrowed $30,000, by signing a 5 year installment note with 5% interest and annual payments of $6,929.24.

Period

Cash Payment

Interest Expense

Reduction of Note Payable

Note Payable Balance

30,000

1

$

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$

$

2

$

$

$

$

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$

$

$

$

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$

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