(Answered) Question - finney company borrowed euro1600000 from banktwo

Accounting

Question - Finney Company borrowed €1,600,000 from BankTwo on January 1, 2016 in order to expand its mining capabilities. The five-year note required annual payments of €416,698 and carried an annual interest rate of 9.5%. What is the balance in the notes payable account at December 31, 2017 after the annual payment?

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