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

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Definitions:

Cognitive Domain

Pertains to intellectual capabilities and processes such as thinking, knowing, remembering, and problem-solving.

Emotional Intelligence

The ability to recognize, understand, manage, and reason with emotions in oneself and others.

Big Five

Refers to the five broad dimensions of personality traits identified by psychology, namely openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Dominance

The power and influence one entity has over others, often established through a hierarchy, control of resources, or physical strength.