On July 1, 2020, Smalls Baseball Company borrowed $100,000,000 to build a new baseball stadium....
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Accounting
On July 1, 2020, Smalls Baseball Company borrowed $100,000,000 to build a new baseball stadium. This loan requires annual interest payments and repayment of the principal plus the final years interest at the end of the 5th year. The terms of the loan were:
5-year loan
Interest rate 3.2%
What amount will Smalls list as Interest Expense for 2020?
Note. Enter numbers only-- do not use a dollar sign ($) or comma.
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