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Trek Company Signed a 9%, 10-Year Note for $150,000

Question 49

Multiple Choice

Trek Company signed a 9%, 10-year note for $150,000. The company paid $1,900 as the installment for the first month. After the first payment, what is the updated principal balance?


A) $147,625
B) $159,430
C) $149,225
D) $159,100

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