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Promissory Note Installment Payments Form

Promissory Note Installment Payments Form

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Quick guide on how to complete promissory note installment payments

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Instructions and help about Promissory Note Installment Payments

in this video we will examine an installment note and see how you would go about calculating the interest by creating an amortization table so here we have carat company they've obtained a $65,000 five-year seven percent installment note from everybody's bank the note requires annual payments of fifteen thousand eight hundred fifty three dollars every year on December 31st beginning twenty twenty-nine so the end of the first year on December twenty thirty one what would be the carrying amount of her balance in the amortization table so in order to get to that that's a couple of years out we need to prepare this table so we start with we have the dates the amount of the payment note the payment is the same for every year except the very last year it could be a little different because we'll adjust to close out in the loan at that point interest rate is going to be 7% calculated multiplied times the carrying value which is going to be the balance of the no

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