Limited time. 50% OFF QuickBooks for 3 months.
Buy now & save
If you know the term (x years), the total interest to be repaid ($20K), and your monthly payment, you can determine the applicable interest rate by using an interest rate calculator. Offset the fixed asset cost ($100K) with the loan payable liability of $100K and book the interest expense as each payment is made based on the amortization schedule.