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Calculate the amount of the note payable balance at December

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Question - On July 1, 2025, H4Rz-Oj1 Company borrowed $679,000 from the bank. H4Rz-Oj1 Company will repay the loan by making semi-annual payments of $95,000 every December 31 and June 30, with the first payment being due December 31, 2025. Assume the interest rate on the loan is 20%, compounded semi-annually.

Calculate the amount of the note payable balance at December 31, 2025 that would be classified as a current liability.

Reference no: EM132787402

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