Multiple Choice
On July 1,Shady Creek Resort borrowed $250,000 cash by signing a 10-year,8% installment note requiring equal payments each June 30 of $37,258.What amount of principal will be included in the first annual payment?
A) $20,000
B) $37,258
C) $25,000
D) $232,742
E) $17,258
Correct Answer:
Verified
Correct Answer:
Verified
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