Trek Company Signed a 9%, 10-Year Note for $150,000

question 33

Multiple Choice

Trek Company signed a 9%, 10-year note for $150,000. The company paid $1,900 as the installment for the first month. What portion of the first monthly payment is principal?

• A)$775
• B)$2,375
• C)$1,800
• D)$14,400