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On 1/1/2021, Green Ltd. borrowed $50,000 from XYZ Bank for 5 years at 4%. Equal...

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Accounting

On 1/1/2021, Green Ltd. borrowed $50,000 from XYZ Bank for 5 years at 4%. Equal principal and interest payments of $11,231 are due each December 31. What is the amount of interest in the first annual payment? What is the amount of principal in the first annual payment

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