Isaac borrowed $5.000 at 125% compounded quarterly 3.5 years ago. One year ago he made a payment of $3,200. What amount will extinguish the loan today? (Do not round Intermedlate calculations and round your final answer to 2 decimal places.) Balance owed today $.

Isaac borrowed $5.000 at 125% compounded quarterly 3.5 years ago. One year ago he made a payment of $3,200. What amount will extinguish the loan today? (Do not round Intermedlate calculations and round your final answer to 2 decimal places.) Balance owed today $.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 1PA: On January 1, 2018, King Inc. borrowed $150,000 and signed a 5-year, note payable with a 10%...

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Isaac borrowed $5.000 at 12.5% compounded quarterly 3.5 years ago. One year ago he made a payment of $3,200. What amount will
extinguish the loan today? (Do not round Intermediate caleulations od round your inal onswer to 2 declmal places.)
Balance owed today

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