Question: Payment date Lease payments Effective interest Decrease in balance Lease balance 1/1/21 16,700 124,782 1/1/21 16,700 0 16,700 108,082 4/1/21 16,700 2,162 14,538 93,544 7/1/21
| Payment date | Lease payments | Effective interest | Decrease in balance | Lease balance |
| 1/1/21 | 16,700 |
|
| 124,782 |
| 1/1/21 | 16,700 | 0 | 16,700 | 108,082 |
| 4/1/21 | 16,700 | 2,162 | 14,538 | 93,544 |
| 7/1/21 | 16,700 | 1,871 | 14,829 | 78,715 |
| 10/1/21 | 16,700 | 1,574 | 15,126 | 63,589 |
| 1/1/22 | 16,700 | 1,272 | 15,428 | 48,161 |
| 4/1/22 | 16,700 | 963 | 15,737 | 32,424 |
| 7/1/22 | 16,700 | 648 | 16,052 | 16,372 |
| 10/1/22 | 16,700 | 328 | 16,372 | 0 |
| Total | 133,600 | 8,818 | 124,782 |
|
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