On Jan 1, 2022, Danube Company borrowed $30,000 and signed a 2-year 6% note requiring monthly payments that would consist of a fixed amount of principal with interest added on. Payments are due at the end of each month. How much interest will be paid in Jan 2022?

Answer rating: 100% (QA)

To calculate the interest paid in January 2022 you first need to find the outstanding balance of the ... View the full answer