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Adventure Travel signed a12%, 10year note for$161,000. The company paid an installment of$2,800 for the first month. After the firstpayment, what is the principalbalance? (Do

Adventure Travel signed a12%, 10year note for$161,000. The company paid an installment of$2,800 for the first month. After the firstpayment, what is the principalbalance? (Do not round any intermediatecalculations, and round your final answer to the nearestdollar.)

A.

$159,390

B.

$159,810

C.

$163,800

D.

$158,200

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