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Get Away Vacations signed a 1313%, 1010minusyear note for $ 157 comma 000$157,000. The company...

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Question

Accounting

Get Away Vacations signed a

1313%,

1010minusyear

note for

$ 157 comma 000$157,000.

The company paid an installment of

$ 2 comma 500$2,500

for the first month. What portion of the first monthly payment is interest expense? (Do not round any intermediate calculations, and round your final answer to the nearest dollar.)

A.

$ 15 comma 583$15,583

B.

$ 33 comma 493$33,493

C.

$ 799$799

D.

$ 1 comma 701

Answer & Explanation Solved by verified expert
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