Multiple Choice
Paris Company buys a building on a plot of land for $100 000, paying $20 000 cash and signing a 20- year mortgage payable for $80 000 at 6%. Monthly payments are $570. What portion of the first monthly payment is interest expense?
A) $550
B) $4 800
C) $400
D) $570
Correct Answer:
Verified
Correct Answer:
Verified
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