What is the total amount of interest expense

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Reference no: EM131259908

Assume that a machine was purchased for $50,700. Cash of $21,700 was paid, and a four-year, 14% note payable was signed for the balance. What is the total amount of interest expense that will be reported over the life of the note?

Reference no: EM131259908

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What is the total amount of interest expense : Assume that a machine was purchased for $50,700. Cash of $21,700 was paid, and a four-year, 14% note payable was signed for the balance. What is the total amount of interest expense that will be reported over the life of the note?

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