Becky is the owner of brooksone farm on january 12007 the

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Reference no: EM13610870

Becky is the owner of Brooksone Farm. On January 1,2007, the beginning of the company's fiscal year, Becky borrowed750,000 at 5% annual interest to purchase equipment. The loanis to be repaid over six years in equal installments. (Roundeach amount to the nearest dollar.)
A. What is the amount of Becky's loan payment eachyear?
B. Prepare an amortization table for the loan.
C. What will be the amount of interest expense reportedby Brookstone Farm for the loan in 2007 and in 2008?

Reference no: EM13610870

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