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What portion of first monthly payment is interest? expense

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Problem 1: Get Away Vacations signed a 14?%, 10-year note for $170,000. The company paid an installment of $2,400 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. $37,967
B. $1,983
C. $417
D. $16,567

Reference no: EM132686762

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