Business, 25.12.2020 23:40 melanie7152

On August 1, a $45,600, 7%, 3-year installment note payable is issued by a company. The note requires equal payments of principal plus accrued interest be paid each year on July 31. The present value of an annuity factor for 3 years at 7% is 2.6243. The payment each July 31 will be:. a. $15,200.00.
b. $17,376.06.
c. $16,000.00.
d. $15,600.00.
e. $2,176.06.

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On August 1, a $45,600, 7%, 3-year installment note payable is issued by a company. The note require...

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