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E14.2 *"On November 1, Turner Company borrowed $30 , 000 . Turner signed a three-year
installment note that calls for 12 quarterly payments and an 8 percent interest rate. How much
cash will Tumer pay each quarter? How much of the first payment will be interest expense and
how much will be principal?

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E14-2 --On November 1- Turner Company borrowed $30-000- Turner signed.docx

  • 1. E14.2 *"On November 1, Turner Company borrowed $30 , 000 . Turner signed a three-year installment note that calls for 12 quarterly payments and an 8 percent interest rate. How much cash will Tumer pay each quarter? How much of the first payment will be interest expense and how much will be principal?