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Calculate the balance of Mortgage Payable after the payment

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Question - On January 1, 2018, Benbrook Company purchased equipment and signed a six-year mortgage note for $80,000 at 15?%. The note will be paid in equal annual installments of $21,139?, beginning January 1, 2019. Calculate the balance of Mortgage Payable after the payment of the first installment? (Round your answer to the nearest whole? number.)

Reference no: EM132714974

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