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What will be the amount of interest pain in second year

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Question - Kellerman Company purchased a building and land with a fair market value of $550,000 (building, $425,000, and land, $125,000) on January 1, 2018 Kellerman signed a 20-year, 6% mortgage payable. Kellerman will make monthly payments of $3,940.37. What will be the amount of interest pain in second year?

Reference no: EM132522215

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