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How much interest expense will be paid on August

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Problem - Tangier Company signed a $200,000 mortgage on July 1, 2018 for the purchase of their new garage building. The mortgage entailed equal monthly payments of $3,000 at the end of each month. The interest rate is 6.0% per year. How much interest expense will be paid on August 31, 2018?

Reference no: EM132633113

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