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Rainflurry
Level 15

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@acnt 

 

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.  

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