Page 1 of 1
yerindoshlaunchidsc270cde daet Bedc-1200/560/question/a m Question 5 of 12 - 76 111 View Policies Current Attempt in Pro
Posted: Wed Apr 27, 2022 11:16 am
by answerhappygod
- Yerindoshlaunchidsc270cde Daet Bedc 1200 560 Question A M Question 5 Of 12 76 111 View Policies Current Attempt In Pro 1 (40.97 KiB) Viewed 39 times
yerindoshlaunchidsc270cde daet Bedc-1200/560/question/a m Question 5 of 12 - 76 111 View Policies Current Attempt in Progress The following instalment payment schedule is for a long-term bank loan payable: Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance Issue date $220.000 1 $52,227.21 $13,200 $39,027.21 180,972.79 2 52.227.21 10.858.37 41.368.84 139.603.95 3 52.227.21 8,376.24 43,850.97 95,752.98 4 52.227.21 5,745.18 46,482.03 49,270.95 5 52.227.21 2.956.26 49,270.95 0 (a) Assuming payments are made annually. what is the interest rate on the bank loan? (Round answer to the nearest whole percent 12%) Interest rate %