A 25-year loan is being repaid with annual payments of 1,300 at an annual effective rate of interest of 7%. The borrower pays an additional 2,600 at the time of the 5th payment and wants to repay the remaining balance over 15 years. Calculate the revised annual payment.

E11-2 (multiple choice) identify the best answer for each of the following: which of the following statements about internal service fund liabilities is false? internal service funds may report both current and long-term liabilities. internal service funds may not issue bonds for financing purposes. internal service funds may report contingent liabilities. due to other funds would be reported as a current liability