Solution-Compute the amount of each of the four equal total

Compute the amount of each of the four equal total payments

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Question - On January 1, 2015, Eagle borrows $17,000 cash by signing a four-year, 6% installment note. The note requires four equal total payments of accrued interest and principal on December 31 of each year from 2015 through 2018. (Table B.1, Table B.2, Table B.3, and Table B.4) (Use appropriate factor(s) from the tables provided.)

1. Compute the amount of each of the four equal total payments.

2. Prepare an amortization table for this installment note. (Round your intermediate calculations to the nearest dollar amount.)

Reference no: EM131611498

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Compute the amount of each of the four equal total payments

Reference no: EM131611498

Reference no: EM131611498

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