On January 1,2018,Earnest Company Purchased Equipment and Signed a Six-Year

question 84

Multiple Choice

On January 1,2018,Earnest Company purchased equipment and signed a six-year mortgage note for$80,000 at 15%.The note will be paid in equal annual installments of $21,139,beginning January 1,2019.Calculate the portion of principal paid on the third installment.(Round any intermediate calculations to two decimal places,and your final answer to the nearest dollar.)

• A) $12,086
• B) $12,000
• C) $21,139
• D) $9053

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Definitions:

Intrapersonal Intelligence

The capacity to understand oneself, including one's emotions, motivations, and thoughts, part of Howard Gardner's theory of multiple intelligences.

Language Acquisition

The process by which humans acquire the ability to perceive, produce, and understand language, typically occurring in childhood.

Classical Conditioning

A training method where two signals are consistently linked together, leading to a reaction initially triggered by the second signal being subsequently triggered by the first signal alone.

Acquisition

Acquisition refers to the initial stage of learning when a response is first established or the phase during which a new behavior is being learned.