Homework Answers
Answe r: $29,769
Interest on Note for First Month = 31,000*5%*6/12 = 129.1667
REducing the note Value after the First Payment = 1360-129.16= 1231
Carryin gValue of the note = 31,000-1231 = 29,769 (Answer)
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68 A company purchased new equipment for $31,000 with a two-year installment note requiring 5% interest. The required m...
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