MacGregor Manufacturing has a long-term note payable with a recurring monthly payment of $12,500. Over the life of this note, the portion of each monthly payment that goes toward interest expense will , and the portion that goes toward the principal will _.

Question

06-12-2019
Business

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MacGregor Manufacturing has a long-term note payable with a recurring monthly payment of $12,500. Over the life of this note, the portion of each monthly payment that goes toward interest expense will , and the portion that goes toward the principal will _.

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TomShelby TomShelby · Answer 1 · 2019-12-08T21:33:43+01:00

Answer:

Over the life of this note, the portion of each monthly payment that goes toward interest expense will DECREASE, and the portion that goes toward the principal will INCREASE.

Explanation:

As the quota are fixed, the interest and amortization will be variable over the life of the loan.

As payments are done; the carrying value of the principal decreasing therefore, also decrease the interest generated during the month making the interest decrease and increasing the amount of amortization on the principal per month

MacGregor Manufacturing has a long-term note payable with a recurring monthly payment of $12,500. Over the life of this note, the portion of each monthly payment that goes toward interest expense will ________, and the portion that goes toward the principal will _________.

Respuesta :

Otras preguntas

MacGregor Manufacturing has a long-term note payable with a recurring monthly payment of $12,500. Over the life of this note, the portion of each monthly payment that goes toward interest expense will , and the portion that goes toward the principal will _.