QUESTION 8 You have taken a loan of $500,000 loan over 12 years at a 0% interest rate compounded monthly, which is rembursed with monthly payments What is the principal portion of the 73rd payment? O&2,314 18 Ob 3,407 19 Oc4496 O4207474

Principles of Accounting Volume 1
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ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 15MC: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual...
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You have taken alone of $500000 lone over 12years at 6% intrest rate compounded monthly, which is rembursed with montly payment. What is the principal portion of the 23rd payment.

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QUESTION 8
You have taken a loan of $500,000 loan over 12 years at a 0% interest rate compounded monthly, which is rembursed with monthly payments What is the principal
portion of the 73rd payment?
Oa2,314 18
Ob 3,407 19
Oc440 86
Od 2074 74
Transcribed Image Text:QUESTION 8 You have taken a loan of $500,000 loan over 12 years at a 0% interest rate compounded monthly, which is rembursed with monthly payments What is the principal portion of the 73rd payment? Oa2,314 18 Ob 3,407 19 Oc440 86 Od 2074 74
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