Multiple Choice
On January 1, 2013, Carter Ltd. issued a 15-year, $600,000 instalment note payable, with annual fixed principal payments of $40,000, plus 5% interest. The cash payment for the first year is:
A) $42,000
B) $70,000.
C) $30,000
D) $40,000.
Correct Answer:
Verified
Correct Answer:
Verified
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