Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. vb owes a $200,000, 8%, five-year note payable dat

VB owes a $200,000, 8%, five-year note payable dated January 1, 2023. It is the...

50.1K

Verified Solution

Question

Finance

VB owes a $200,000, 8%, five-year note payable dated January 1, 2023. It is the end of year 2023, and instead of making the interest payment now due, VB has made arrangements to pay the debt and the 2023 interest payment in four equal instalments based on the same interest rate. The first payment is to be made on January 1, 2024. The amount of the equal annual payments is (rounded to the nearest dollar):

$55,912 $65,215 $54,000 $60,384

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Why is it possible for human genes to be expressed in bacteria for manufacturing pharmaceutical...

Biology
Q

An article can pass one part of the CRAAP test but not another True False

Biology
Q

9 A B and C are voltmeters of resistance R 1 5 R and 3R...

Physics
Q

Rhea stated that the equation f(x) = x5 - 4x + x-4 has 3 zeros...

Basic Math
Q

The two way frequency table contains data about how students access Computer 28 Mobile device...

Algebra
Q

83.Chesterfield Constructions Ltd owns a crane which is used based on contract for many construction...

Accounting
Q

Analysis and Interpretation of Profitability Balance sheets and income statements for 3M Company follow. a....

Accounting
Q

To attend school, Aisha deposits $360 at the end of every quarter for three and...

Accounting
Q

You have just completed a $24,000 feasibility study for a new coffee shop in some...

Finance
Q

Joe and Jessie are married and have one dependent child, Lizzie. Lizzie is currently in...

Accounting
Q

rounded to decimal place for 0.0924) 4 Category Prior year Cum Year Accounts payable 41,400...

Finance
Q

13 13 Over the past four years, Jolie accepted an investment in...

Finance