[The Following Information Applies to the Questions Displayed Below

question 59

Multiple Choice

[The following information applies to the questions displayed below.]

On January 1, Year 1, Mahoney Company borrowed $324,000 cash from Sun Bank by issuing a 5-year, 8% term note. The principal and interest are repaid by making annual payments beginning on December 31, Year 1. The annual payment on the loan equals $81,150.


-What is the amount of principal repayment included in the payment made on December 31,Year 1?

• A)$25,920
• B)$81,150
• C)$74,658
• D)$55,230

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Definitions:

Sociobiology

The study of the biological basis of all social behavior.

Cultural Variations

Differences in cultural practices, beliefs, and values among various groups, influencing behaviors, perceptions, and social norms.

Heritability

A measure of how much of the variation in a trait among individuals within a population is due to genetic differences.

Identical Twins

Twins that develop from a single fertilized egg that splits and forms two embryos, sharing 100% of their DNA.