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I am owed a payment of $15,000 in five years. what is my note receivable balance today if the interest rate is 7%? how much interest will i earn on the note?
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I am owed a payment of $15,000 in five years. what is my note receivable balance today if the interest rate is 7%? how much interest will i earn on the note?

User Blackcompe
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1 Answer

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$16050 is the balance because you will earn $1050 . It is calculated by multiplying its interest rate plus 1 to the principal.
User Efkan
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