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Prepare an installment payments schedule for the first years

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Point 1: Talkington Electronics issues a $386,200, 6%, 10-year mortgage note on December 31, 2014. The proceeds from the note are to be used in financing a new research laboratory. The terms of the note provide for semiannual installment payments, exclusive of real estate taxes and insurance, of $25,959. Payments are due June 30 and December 31.

Question 1: Talkington Electronics issues a $413,500, 4%, 15-year mortgage note on December 31, 2016. The proceeds from the note are to be used in financing a new research laboratory. The terms of the note provide for annual installment payments, exclusive of real estate taxes and insurance, of $50,981. Payments are due on December 31. Prepare an installment payments schedule for the first 4 years. (Round answers to 0 decimal places, e.g. 15,250.)

Reference no: EM132499344

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