DeAndre Ayton just purchased 20 times his annual income in life insurance. He has one job where he makes about $55,000 a year and he does some freelance work and makes another $24,000 a year. How much insurance did DeAndre purchase?*

Acompany finances the purchase of equipment with a $500,000 5-year note payable. the note has an interest rate of 12% and a monthly payment of $11,122. after two payments have been made, what amount should the company report as the note payable balance in its december 31 balance sheet?