You are told that a note has repayment terms of $4,000 per year for five years, with
Question:
You are told that a note has repayment terms of $4,000 per year for five years, with a stated interest rate of 4%. How much of the total payment is for principal, and how much is for interest? Show calculations using two methods (financial calculator and Excel).
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Step by Step Answer:
1 Using a financial calculator PV Yields 178072...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-1119048534
11th Canadian edition Volume 1
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
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