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Chapter 9 problem 1 On January 1,2024, Saugatuck Company borrowed $300000 for 5 years at...

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Accounting

Chapter 9 problem 1 On January 1,2024, Saugatuck Company borrowed $300000 for 5 years at 1% interest. The loan requires 5 annual payments of $61811.94 due on December 31 each year. Round all calculations to the penny (2nd decimal place).
Note Amount:
Interest Rate:
Years to Maturity:
Annual Payments:
$300,000.00
1.00%
$61,811.94
Complete the amortization schedule for this loan.
\table[[Date,Payment,Interest,Principal,Carry Value],[Jan 1,2024,,,,300,000.00
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