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What would be the amount applied to paying

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Reference no: EM131714586

Terms: Borrowed $30000.00 by signing a 5 year installment note with 5 % interest and annual payments of 6929.24.

- What would be the amount of interest expense for the 1st period?

- What would be the cash payment for the 2nd payment?

- What would be the amount applied to paying of the principal balance for the 3rd payment

what would the balance of the note payable be after the 5th payment?

Reference no: EM131714586

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