Answer
$55, 820
Work Step by Step
Total interest = Total payments—Amount owed today
(10 X 15,582) 155,820 – 100,000 = $55, 820
Intermediate Accounting 14th Edition
by Kieso, Donald E.; Weygandt, Jerry J.; Warfield, Terry D.
Published by
Wiley
ISBN 10:
0470587237
ISBN 13:
978-0-47058-723-2
Chapter 6 - Accounting and the Time Value of Money - Exercises - Page 344: E6-11a
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