Mission Corp.borrowed $50,000 cash on April 1,2019,and signed a one-year 12%,interest-bearing note payable.The interest and principal are both due on March 31,2020.
-What is the amount to be paid to the bank on March 31,2020 for interest and principal?

Question

Mission Corp.borrowed $50,000 cash on April 1,2019,and signed a one-year 12%,interest-bearing note payable.The interest and principal are both due on March 31,2020. 
-What is the amount to be paid to the bank on March 31,2020 for interest and principal?

Quizplus · Accepted Answer

The Answer of Mission Corp.borrowed $50,000 cash on April 1,2019,and signed a one-year 12%,interest-bearing note payable.The interest and principal are both due on March 31,2020. 
-What is the amount to be paid to the bank on March 31,2020 for interest and principal?