CV. Manggis received $300,000 when it issued a $300,000, 10%, 20-year mortgage note to finance...
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CV. Manggis received $300,000 when it issued a $300,000, 10%, 20-year mortgage note to finance the construction of a building on December 31, 2023. The terms of the loan include installment payments of $42,100 every December 31. How much interest expense does the company recognize in the 3rd year installment?
a. $27.459
b. $28.790
c. $14.641
d. $30.000
e. $12.100
CV. Manggis received $300,000 when it issued a $300,000, 10%, 20-year mortgage note to finance the construction of a building on December 31, 2023. The terms of the loan include installment payments of $42,100 every December 31. How much interest expense does the company recognize in the 3rd year installment?
a. $27.459
b. $28.790
c. $14.641
d. $30.000
e. $12.100
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