Dandy Candy bought a delivery vehicle for $45,000 by issuing an 8% installment note on December 31,
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Question:
Dandy Candy bought a delivery vehicle for $45,000 by issuing an 8% installment note on December 31, 2014. Dandy will make 12 monthly payments of $3,914.50 at the end of each month.
Required:
Prepare the amortization table using the effective interest rate method. (Note: Round to the nearest cent). If an amount box does not require an entry, leave it blank or enter "0".
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Related Book For
Corporate Finance A Focused Approach
ISBN: 978-1439078082
4th Edition
Authors: Michael C. Ehrhardt , Eugene F. Brigham
Posted Date: