Question
You borrow money on a self liquidating installment loan (equal payments at the end of each year, each payment is part principal part interest) Loan
You borrow money on a self liquidating installment loan (equal payments at the end of each year, each payment is part principal part interest)
| Loan amount | $989,000 |
| Interest Rate | 11.7% |
| Life | 48 years |
| Date of Loan | January 1, 2021 |
Use the installment method - not straight line Do NOT round any interrmediate numbers. Do NOT turn this into a monthly problem. Do NOT put in minus signs, answer all positive num
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Intermediate Accounting
Authors: kieso, weygandt and warfield.
14th Edition
9780470587232, 470587288, 470587237, 978-0470587287
