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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asked Oct 5, 2018 60.6k views

1 Answer

Efkan · Answer 1 · 2018-10-11T15:53:00+0000

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