AB Owes a $100,000, 8%, Five-Year Note Payable Dated January

question 63

Essay

AB owes a $100,000, 8%, five-year note payable dated January 1, 2020.It is the end of year 2020, and instead of making the interest payment now due, AB has made arrangements to pay the debt and the 2020 interest payment, in four equal instalments based on the same interest rate.The first payment is to be made on January 1, 2021.The amount of the equal annual payments, rounded to the nearest dollar, is:

---

Definitions:

Ethical Concerns

Situations or problems demanding an individual or organization to decide between choices that need to be considered as morally correct or incorrect.

Forces Resisting Change

Various factors or entities within an organization that oppose or hinder change efforts, including but not limited to organizational inertia, cultural barriers, and individual resistance.

Reward System

Mechanisms in an organization to recognize and reward employees' performance and contributions.

Job Duties

The set of responsibilities and tasks that an individual is expected to perform as part of their employment.