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A company issues a $200,000, 5%, six-year note on January 1, 2021. If the monthly payment is $3,220.99, by how much will the carrying value

A company issues a $200,000, 5%, six-year note on January 1, 2021. If the monthly payment is $3,220.99, by how much will the carrying value decrease when the first months payment is made on January 31, 2021?

Multiple Choice

  • $833.33

  • $4,054.32

  • $3,220.99

  • $2,387.66

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