Palisades Inc purchased several trucks with an installment note payable on 1/1/2019. Palisades Inc agreed to pay $50,000 at the end of each year for four years. The instalments will fully pay off the loan and all interest. The interest rate of the loan was 4%. What was Palisades Inc's loan balance at 12/21/20192 (Round your answer to the nearest dollar) PV of $1 when N=4, 1=4% =0.85480 PV of annuity when N=4, I=4% = 3.62990)
Palisades Inc purchased several trucks with an installment note payable on 1/1/2019. Palisades Inc agreed to pay $50,000 at the end of each year for four years. The instalments will fully pay off the loan and all interest. The interest rate of the loan was 4%. What was Palisades Inc's loan balance at 12/21/20192 (Round your answer to the nearest dollar) PV of $1 when N=4, 1=4% =0.85480 PV of annuity when N=4, I=4% = 3.62990)
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 1EA: Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest...
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Palisades Inc purchased several trucks with an installment note payable on 1/1/2019. Palisades Inc
agreed to pay $50,000 at the end of each year for four years. The instalments will fully pay off the
loan and all interest. The interest rate of the loan was 4%. What was Palisades Inc's loan balance at
12/21/20192 (Round your answer to the nearest dollar)
PV of $1 when N=4, 1=4% =0.85480
PV of annuity when N=4, I=4% = 3.62990)
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