Windsor Company borrowed €1625000 from BankTwo on January 1, 2019, in order to expand its mining capabilities. The five-year note required annual payments of €422500 and carried an annual interest rate of 9.00%. What is the balance in the notes payable account at December 31, 2020, after the annual payment? €1047638 €1332500 €1348750 €1625000

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A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

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A: I am answering the first question as per bartleby policies. Please re-submit the remaining questions…

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A: Hi student Since there are multiple questions, we will answer only first question.

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A: Comment- Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the…

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A:

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A:

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A: Loan is to paid by the equal annual installments to be paid for the loan amount and interest.