Answered: Amount 1,200,000.00 Interest 12% Date…

Amount 1,200,000.00 Interest 12% Date 1/1/2020 Due Date 12/31/2022 The note is compounded interest bearing Compute for the interest in Year 2021? O 161,280 O 150,000 O 130,000 O 144,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Amount
1,200,000.00
Interest
12%
1/1/2020
12/31/2022
Date
Due Date
The note is compounded interest bearing
Compute for the interest in Year 2021?
O 161,280
O 150,000
O 130,000
O 144,000

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