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USE THE FOLLOWING INFORMATION FOR THIS QUESTION: Installment note payable borrowed from the bank Present value interest factor from table Signed for Annual interest rate Payments are made 195,060 $7,802 $99,442 The outstanding loan balance at the end of year 3 equals what amount? $103,420 zero $287,000 Ounable to determine 2.77509 3 years 4% Annually

USE THE FOLLOWING INFORMATION FOR THIS QUESTION: Installment note payable borrowed from the bank Present value interest factor from table Signed for Annual interest rate Payments are made 195,060 $7,802 $99,442 The outstanding loan balance at the end of year 3 equals what amount? $103,420 zero $287,000 Ounable to determine 2.77509 3 years 4% Annually

FINANCIAL ACCOUNTING
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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USE THE FOLLOWING INFORMATION FOR THIS QUESTION: Installment note payable borrowed from the bank Present value interest factor from table Signed for Annual interest rate Payments are made 195,060 $7,802 The outstanding loan balance at the end of year 3 equals what amount? $99,442 $103,420 zero $287,000 unable to determine 2.77509 3 years 4% Annually
Transcribed Image Text:USE THE FOLLOWING INFORMATION FOR THIS QUESTION: Installment note payable borrowed from the bank Present value interest factor from table Signed for Annual interest rate Payments are made 195,060 $7,802 The outstanding loan balance at the end of year 3 equals what amount? $99,442 $103,420 zero $287,000 unable to determine 2.77509 3 years 4% Annually
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