Trek Holidays Company signed a 8%,10-year note for $167,000.The company paid an installment of $2,900 for the first month.What portion of the first monthly payment is principal? (Do not round any intermediate calculations,and round your final answer to the nearest dollar. )
A) $1,787
B) $4,687
C) $3,340
D) $16,817
Correct Answer:
Verified
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