Stately Co.began construction of a new factory at the beginning of 2013.At the end of the year,construction was completed,and construction costs totaled $200,000.Stately borrowed $180,000 at the beginning of 2013 to finance the construction and repaid the loan at the end of 2013.The interest rate on the loan was 9%.Determine the following amounts.

Question

Stately Co.began construction of a new factory at the beginning of 2013.At the end of the year,construction was completed,and construction costs totaled $200,000.Stately borrowed $180,000 at the beginning of 2013 to finance the construction and repaid the loan at the end of 2013.The interest rate on the loan was 9%.Determine the following amounts.
Stately Co.began construction of a new factory at the beginning of 2013.At the end of the year,construction was completed,and construction costs totaled $200,000.Stately borrowed $180,000 at the beginning of 2013 to finance the construction and repaid the loan at the end of 2013.The interest rate on the loan was 9%.Determine the following amounts.

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The Answer of Stately Co.began construction of a new factory at the beginning of 2013.At the end of the year,construction was completed,and construction costs totaled $200,000.Stately borrowed $180,000 at the beginning of 2013 to finance the construction and repaid the loan at the end of 2013.The interest rate on the loan was 9%.Determine the following amounts.