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Find what portion of first monthly payment is interest

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Problem 1: Get Away Vacations signed a 14%, 10-year note for $157,000. The company paid an installment of $2100 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) $268
B) $35,063
C) $15,183
D) $1832

Reference no: EM132731382

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