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Betty DeRose, Inc. borrowed $160,000 on July 1,2025 . The terms of the loan require...

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Accounting

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Betty DeRose, Inc. borrowed $160,000 on July 1,2025 . The terms of the loan require Betty DeRose to make semi-annual payments of $14,000 every December 31 and June 30 , with the first payment being due on December 31, 2025. Assume the loan has an interest rate of 10\%, compounded semi-annually. Calculate the note payable account balance at Dec. 31, 2026 after the third loan payment has been made

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