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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