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Get Away Vacations Signed a 14%,10-Year Note for $157,000

Question 55

Multiple Choice

Get Away Vacations signed a 14%,10-year note for $157,000.The company paid an installment of $2100 for the first month.What portion of the first monthly payment is interest expense? (Do not round any intermediate calculations,and round your final answer to the nearest dollar.)


A) $268
B) $35,063
C) $15,183
D) $1832

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