Company issued (borrowed) a $4,000,000, 10%, 10-year mortgage note payable to finance the construction of a building a 31, 2017. The terms provide for annual installment payments of $650,981. Instructions (a). Prepare an installment payments schedule for the first 2 years. (use the following table)

Essentials Of Investments
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ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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GUNO Company issued (borrowed) a $4,000,000, 10%, 10-year mortgage note payable to finance the construction of a building at December
31, 2017. The terms provide for annual installment payments of $650,981.
Instructions
(a). Prepare an installment payments schedule for the first 2 years. (use the following table)
Q
Transcribed Image Text:GUNO Company issued (borrowed) a $4,000,000, 10%, 10-year mortgage note payable to finance the construction of a building at December 31, 2017. The terms provide for annual installment payments of $650,981. Instructions (a). Prepare an installment payments schedule for the first 2 years. (use the following table) Q
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