Compute the amount owed on the mortgage

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Reference no: EM131765177

Question: Thayer Company purchased a building on January 2 by signing a long-term $3360000 mortgage with monthly payments of $30800. The mortgage carries an interest rate of 10 percent. The amount owed on the mortgage after the first payment will be

Entry field with incorrect answer

$3329200.

$3332000.

$3360000.

$3357200.

Reference no: EM131765177

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