Computation of carrying value of bond

Reference no: EM1311023

Klamm Company needs to borrow $100,000. It plans to sign an instalment note with a 7% interest rate and make monthly payments for the next 10 years. How much is the monthly payment required? How much of the first month's payment is interest? What is the carrying value of the note at the end of the first month?

Reference no: EM1311023

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