Business, 15.04.2020 00:11 moomoofower

On January 1, Year 1, Barnes Company issued a $100,000 installment note. The note had a 10-year term and an 8 percent interest rate. Barnes agreed to repay the principal and interest in 10 annual payments of $14,903 at the end of each year. The principal balance of the note on January 1, Year 2 is (round your answer to the nearest whole dollar).

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On January 1, Year 1, Barnes Company issued a $100,000 installment note. The note had a 10-year term...