Amortization table, Financial Accounting

On November 1, 2011, Leetch Ltd. borrows $400,000 cash from a bank by signing a five-year installment note bearing 8% interest. The note needs equal total payments every year on October 31

 

Required:

1.  Compute the total amount of every installment payment.

2.  Complete an amortization table for this installment note.

 

Posted Date: 3/25/2013 1:40:54 AM | Location : United States







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