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Your Corporation bought $650, 000 of equipment using an installment loan. The note provides for 4% annual interest and equal annual payments of interest and
Your Corporation bought $650, 000 of equipment using an installment loan. The note provides for 4% annual interest and equal annual payments of interest and principal of $58,462 on December 31 of each year. Calculate the principal reduction for YEAR 2?
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Principal reduction for year 2 The principal reduction for year 2 is 3246200 Explanation We can calc...
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Financial Accounting an introduction to concepts, methods and uses
Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis
13th Edition
978-0538776080, 324651147, 538776080, 9780324651140, 978-0324789003
