Question: Exercise Number 4. I will pay with Implicit Rate 6 Points Assume that the equipment from the previous exercise actually has a market value of

Exercise Number 4. I will pay with Implicit Rate 6 Points

Exercise Number 4. I will pay with Implicit Rate 6 Points Assume that the equipment from the previous exercise actually has a market value of $ 40,000. I know They will pay S12,500 annually for four years. 1. What is the true interest rate on this note? 2. Use Excel to prepare the amortization table for the note. 3. How much will the debt balance be after making the third annual payment

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