Difference between note payable and mortgage payable, Accounting Basics

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Difference between note payable and mortgage payable

Response to the following questions:

1. The higher the interest rate, the lower the present value of a future amount. Why?

2. What is an annuity?

3. When does the stated amount of a liability equal its present value?

4. What is the difference between a note payable and a mortgage payable?

If possible, please give examples to better understand your answers.

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Accounting Basics: Difference between note payable and mortgage payable

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Accounting Basics: Difference between note payable and mortgage payable

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