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Calculate the amount of the note payable at december

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Reference no: EM132873397

Question 1: TT'S Company borrowed $282,000 on January 1, 2033. The terms of the loan require TT's Company to make annual payments of $86,200 every December 31, with the first payment being due on December 31, 2033. Assume the loan has an interest rate of 20%, compounded annually. Calculate the amount of the note payable at December 31, 2034 amount of the note payable at December 31, 2034 that would be classified as a long-term liability long-term liability

Reference no: EM132873397

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