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How much interest expense be paid on august for allstar co

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Problem 1: Allstar Company signed a $100,000 mortgage on July 1, 2021 for the purchase of their new garage building. The mortgage entailed equal monthly payments of $2,800 at the end of each month. The interest rate is 8% per year. How much interest expense will be paid on August 31, 2021?

Reference no: EM132912746

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