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Grainfield Corporation First Payment on an 8 Percent,$40,000,10 Year Installment,that

Question 37

Multiple Choice

Grainfield Corporation first payment on an 8 percent,$40,000,10 year installment,that has quarterly payments is $1,462.23.How much of this first payment is interest?


A) $116.98
B) $800
C) $633.56
D) $320

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