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Calculate the portion of principal paid on third installment

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Reference no: EM132318466

Question

On January? 1, 2018, Earnest Company purchased equipment and signed a six-year mortgage note for $194,000 at 15?%.

The note will be paid in equal annual installments of $51,262, beginning January? 1, 2019. Calculate the portion of principal paid on the third installment.?

(Round any intermediate calculations to two decimal? places, and your final answer to the nearest? dollar.)

Reference no: EM132318466

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