On january 1 2008 the delta company borrowed 162000 cash

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On January 1, 2008 the Delta Company borrowed $162,000 cash from the First Trust Bank by issuing a five-year 8 % installment note. The principal and interest are repaid by making annual payments beginning on December 31, 2008. The annual payment on the loan is $40,575. The amount of principal repayment included in the December 31, 2008 payment is?

Reference no: EM13575166

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