Leaf co. purchased from oak co. a $20,000, 8%, 5-year note that required five equal, annual year-end payments of $5,009. the note was discounted to yield a 9% rate to leaf. at the date of purchase, leaf recorded the note at its present value of $19,485. what should be the total interest revenue earned by leaf over the life of this note? a. $5,560b. $8,000c. $5,045d. $9,000

A. $5,560

Explanation:

The computation of the total interest revenue is shown below:

= Five-year payments received of note payable - present value of note payable

where,  

Five-year payments received of note payable =  Annual year payment received × number of years

= $5,009 × 5 years

= $25,045

And, the present value of the note payable is $19,485

Now put these values to the above formula

So, the value would equal to

= $25,045 - $19,485

= $5,560

answer; correct answer is investing activity;

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