On january 1 2012 rupp co borrowed 150000 cash from central

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Amortization schedule for an installment note

On January 1, 2012, Rupp Co. borrowed $150,000 cash from Central Bank by issuing a five-year, 8 percent note. The principal and interest are to be paid by making annual payments in the amount of $37,568. Payments are to be made December 31 of each year, beginning December 31, 2012.

Required:Prepare an amortization schedule for the interest and principal payments for the five-year period.

Reference no: EM13570850

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