Synder Corporation signed a notes payable with Synergy Bank…
Synder Corporation signed a notes payable with Synergy Bank on June 1, 2020. The note provides that Synder Corporation must pay principal plus all accrued interest at 10%, compounded annually, on June 1, 2026. Assuming Synder Corporation originally borrowed $425,000 and has not made any payment on the note prior to the due date, how much must Synder Corporation pay to Synergy Bank on June 1, 2026, the due date of the note? Use the appropriate equation to answer the question and round the answer to the nearest dollar.
Synder Corporation signed a notes payable with Synergy Bank…
Questions
Synder Cоrpоrаtiоn signed а notes pаyable with Synergy Bank on June 1, 2020. The note provides that Synder Corporation must pay principal plus all accrued interest at 10%, compounded annually, on June 1, 2026. Assuming Synder Corporation originally borrowed $425,000 and has not made any payment on the note prior to the due date, how much must Synder Corporation pay to Synergy Bank on June 1, 2026, the due date of the note? Use the appropriate equation to answer the question and round the answer to the nearest dollar.
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