Annual payments consisting of principal and interest

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On January 1, 2010, Zero company obtained a $52,000, four-year, 65% installment note from Regional Bank. The note requires annual payments consisting of principal and interest of $15,179, beginning on December 31, 2010. The December 31, 2010 carrying amount in the amortization table for this installment note will be equal to: $40,201.

Please show the steps on how to get this amount.

Reference no: EM13755009

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