Natalie and Curtis have been experiencing great demand for their cookies and muffins. As a result, they are now thinking about buying a commercial oven. They know which oven they want and that it will cost $22,100. The company already has $6.500 set aside for the purchase and will need to borrow the rest. ► Natalie and Curtis met with a bank manager to discuss their options. She is willing to lend Cookie & Coffee Creations Inc. $15.600 on November 1, 2023, for a period of 3 years at a 5% interest rate. The terms provide for fixed principal payments of $2,600, on May 1 and November 1 of each year plus 6 months of interest. Prepare a payment schedule for the life of the note. (If answer is 0, please enter O. Do not leave any fields blank)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Natalie and Curtis have been experiencing great demand for their cookies and muffins. As a result, they are now thinking about buying
a commercial oven. They know which oven they want and that it will cost $22,100. The company already has $6.500 set aside for the
purchase and will need to borrow the rest.
►
Natalie and Curtis met with a bank manager to discuss their options. She is willing to lend Cookie & Coffee Creations Inc. $15,600 on
November 1, 2023, for a period of 3 years at a 5% interest rate. The terms provide for fixed principal payments of $2,600, on May 1
and November 1 of each year plus 6 months of interest.
(a)
Prepare a payment schedule for the life of the note. (If answer is 0, please enter O. Do not leave any fields blank)
Transcribed Image Text:Please help G Natalie and Curtis have been experiencing great demand for their cookies and muffins. As a result, they are now thinking about buying a commercial oven. They know which oven they want and that it will cost $22,100. The company already has $6.500 set aside for the purchase and will need to borrow the rest. ► Natalie and Curtis met with a bank manager to discuss their options. She is willing to lend Cookie & Coffee Creations Inc. $15,600 on November 1, 2023, for a period of 3 years at a 5% interest rate. The terms provide for fixed principal payments of $2,600, on May 1 and November 1 of each year plus 6 months of interest. (a) Prepare a payment schedule for the life of the note. (If answer is 0, please enter O. Do not leave any fields blank)
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