Jones just closed a $10,000 business loan that is to be repaid in three equal, annual, end-of-year payments.The interest rate on the loan is 13%. As part of his firm's detailed financial planning, Jones wishes to determine the annual interest deduction attributable to the loan.;a. determine the firm's annual loan payment;b. Prepare an amortization schedule for the loan;c. How much interest expense will Jones firm have in each of the next 3 years as a result of this loan?
Paper#32407 | Written in 18-Jul-2015Price : $24