On January 1, 2012, Rupp Co. borrowed $150,000 cash from Central Bank by issuing

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On January 1, 2012, Rupp Co. borrowed $150,000 cash from Central Bank by issuing a five-year, 8 percent note. The principal and interest are to be paid by making annual payments in the amount of $37,568. Payments are to be made December 31 of each year, beginning December 31, 2012. Roup Co Amortization Schedule $150,000, 5-Yr. Term Note, 8% Interest Rate Year Prin. Bal. Cash Pay. Applied to Applied to Prin. Bal. on Jan 1 Dec. 31 Interest Principal End of Period 2012 $ $ $ $ $ 2013 2014 2015 2016

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