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Adventure Travel Signed a 14%,10-Year Note for $152,000

Question 123

Multiple Choice

Adventure Travel signed a 14%,10-year note for $152,000.The company paid an installment of $2200 for the first month.After the first payment,what is the principal balance? (Do not round any intermediate calculations,and round your final answer to the nearest dollar.)


A) $149,800
B) $150,227
C) $151,573
D) $154,200

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