Paris Company Buys a Building on a Plot of Land

question 53

Multiple Choice

Paris Company buys a building on a plot of land for $100,000,paying $20,000 cash and signing a 20-year mortgage note for $80,000 at 6%.Monthly payments are $570.
-The first monthly payment was made in January,2013.After the first payment,what is the updated principal balance?

• A) $79,430
• B) $79,600
• C) $79,830
• D) $79,440

---

Definitions:

Psycho-Emotional Development

The aspect of development that involves the growth of psychological and emotional capabilities and functioning.

Social Development

The process by which individuals acquire the values, behaviors, and social skills necessary for functioning effectively in society.

Decrease in Risk-Taking Behavior

denotes a reduction in engaging in actions that involve significant risks or dangers, often seen as a positive behavioral change.

Gang Membership

Affiliation or involvement with a group that often engages in criminal activities and operates with a certain level of organization and identity.