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Calculate the amount of the note payable balance at december

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On July 1, 2039, B22dT-E3 Company borrowed $596,000 from the bank. B22dT-E3 Company will repay the loan by making semi-annual payments of $83,000 every December 31 and June 30, with the first payment being due December 31, 2039. Assume the interest rate on the loan is 20%, compounded semi-annually.

Problem 1: Calculate the amount of the note payable balance at December 31, 2039 that would be classified as a current liability.

Reference no: EM132784211

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