Peachtree company borrows $30,000 from the local bank at 7% interest. the term of the note is five years, and the annual payments remain constant at $7,317. determine the decrease in notes payable that peachtree company should record in the first year.

$5,217

Step-by-step explanation:

Data provided;

Amount borrowed = $30,000

Interest rate = 7%

Term of note = 5 years

Annual payments = $7,317

Interest payment for the first year = Amount borrowed × Interest rate

= $30,000 × 7%

= $30,000 × 0.07

= $2,100

Hence,,

The Principal amount paid = Total amount paid - Interest

or

⇒ The Principal amount paid = $7,317 - $2,100

= $5,217

Hence,

the decrease in notes payable that Peachtree Company should record in the first year is $5,217

16 is the absolute value

step-by-step explanation:

step-by-step explanation:

points a and b are equidistant from the desired line, so the line you find by using them will go through point r.

using points other than a and b will give the desired line only if they are equidistant from r. if they are randomly located, the perpendicular line you create will not necessarily go through point r, hence will not be a solution to the problem.