On January 1, 2018, Earnest Company purchased equipment and signed a sixminusyear mortgage note for $ 110 comma 000 at 15 %. The note will be paid in equal annual installments of $ 29 comma 066 , beginning January 1, 2019. Calculate the portion of principal paid on the third installment. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) A. $ 29 comma 066 B. $ 12 comma 447 C. $ 16 comma 500 D. $ 16 comma 619
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “On January 1, 2018, Earnest Company purchased equipment and signed a sixminusyear mortgage note for $ 110 comma 000 at 15 %. The note will ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Pacific Cruise Lines is a defendant in litigation involving a swimming accident on one of its three cruise ships. Required:1. The likelihood of a payment occurring is probable, and the estimated amount is $1.3 million. 2.
Answers (1)
5. Explain how the change in minimum wage will affect America's competitiveness in the Global economy. (VC3, EQS6)
Answers (1)
The difference between the revenues taken in by a business and the costs of operating the business is called
Answers (1)
19. Who among the following is not covered under the Occupational Safety and Health Act of 1970? a. A farmer with eight employees working for him b. A bakery with 50 employees working for it c.
Answers (1)
Kansas Enterprises purchased equipment for $80,500 on January 1, 2021. The equipment is expected to have a five-year service life, with a residual value of $8,400 at the end of five years.
Answers (1)
New Questions in Business
In the Reaching Beyond our Borders box titled, "Ethical Culture Clash", the story proves that a large multi-national company such as Motorola can ask its employees, and should expect them to follow the same ethical standards they would practice if
Answers (1)
Kier Company issued $600,000 in bonds on January 1, Year 1. The bonds were issued at face value and carried a 5-year term to maturity. The bonds have a 6.00% stated rate of interest and interest is payable in cash on December 31 each year.
Answers (1)
Suppose that the adult population is 4 million, the number of unemployed is 0.25 million, and the labor-force participation rate is 75%. What is the unemployment rate?
Answers (1)
Clear Colors Corporation uses a predetermined overhead rate based on direct labor costs to apply manufacturing overhead to jobs.
Answers (1)
You sell a put option on S&P 500 index with the strike price of 3300. Suppose the S&P 500 index is 3000 on the option expiration date. What is your payoff?
Answers (1)