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:

Internet-Based Service

Services provided through the Internet, encompassing various activities like communication, retail, and media consumption.

Privileged

Having special rights, advantages, or immunities that are usually derived from one's socio-economic status, position, or membership in a particular group.

Conglomeration

A large corporation formed by the joining together of diverse companies across various industries.

Media Ownership

Refers to the control or ownership of media companies by private or corporate entities.