Get Out of Town Vacations signed a 14%, 10-year note for $157,000. The company paid an installment of $2,100 for the first month. What portion of the first monthly payment is interest expense? (Round your answer to the nearest whole number.)
A) $268
B) $35,063
C) $15,183
D) $1,832
D .Interest Expense for 1 month ($157,000 x 14%) x (1/12 ) = $1,832
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Questions can be used to
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Indicate whether the statement is true or false
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What will be an ideal response?