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Trek Holidays Company Signed a 8%,10-Year Note for $167,000

Question 17

Multiple Choice

Trek Holidays Company signed a 8%,10-year note for $167,000.The company paid an installment of $2,900 for the first month.What portion of the first monthly payment is principal? (Do not round any intermediate calculations,and round your final answer to the nearest dollar. )


A) $1,787
B) $4,687
C) $3,340
D) $16,817

Correct Answer:

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