On January 1, 2020, a bank have issued a 5-year term loan to a businessman. The following details of the loan are provided as follows: Principal: Interest rate per annum: Repayment structure: 5,000,000.00 Instruction: Prepare the amortization table below. 2020 Q1 Q2 Q3 Q4 2021 Q1 Q2 Q3 Q4 2022 Q1 16% Quarterly Year Quarter Payment Beginning Balance Q2 Q3 Q4 2023 Q1 Q2 Q3 Q4 2024 Q1 Q2 Q3 Q4 Interest Principal Balance 5,000,000.00
On January 1, 2020, a bank have issued a 5-year term loan to a businessman. The following details of the loan are provided as follows: Principal: Interest rate per annum: Repayment structure: 5,000,000.00 Instruction: Prepare the amortization table below. 2020 Q1 Q2 Q3 Q4 2021 Q1 Q2 Q3 Q4 2022 Q1 16% Quarterly Year Quarter Payment Beginning Balance Q2 Q3 Q4 2023 Q1 Q2 Q3 Q4 2024 Q1 Q2 Q3 Q4 Interest Principal Balance 5,000,000.00
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 1PA: On January 1, 2018, King Inc. borrowed $150,000 and signed a 5-year, note payable with a 10%...
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