On January 1, 2014, the Pareto Company borrowed $80,000 in exchange for an interest-bearing note. The note

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On January 1, 2014, the Pareto Company borrowed $80,000 in exchange for an interest-bearing note. The note plus interest compounded at an annual rate of 8% is due on December 31, 2016. Calculate the amount that Pareto will pay on the due date.

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Fundamental Accounting Principles Volume II

ISBN: 978-1259066511

14th Canadian Edition

Authors: Larson Kermit, Jensen Tilly

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Question Posted: Jan 08, 2015 08:37 AM

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On January 1, 2014, the Pareto Company borrowed $80,000 in exchange for an interest-bearing note. The note

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Fundamental Accounting Principles Volume II

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