you borrow $20,000 from a bank to be repaid in three equal annual instalment at 9% interest compounded annually. What is the portion of interest payment for the 2nd annual payment? Select one: A 510 B. 1089 C. 549 D. 1251 E. 1800

you borrow $20,000 from a bank to be repaid in three equal annual instalment at 9% interest compounded annually. What is the portion of interest payment for the 2nd annual payment? Select one: A 510 B. 1089 C. 549 D. 1251 E. 1800

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 1EB: Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the...

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Question

you borrow $20,000 from a bank to be repaid in three equal annual
instalment at 9% interest compounded annually. What is the portion of
interest payment for the 2nd annual payment?
Select one:
A 510
B. 1089
C. 549
D. 1251
E. 1800

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