Question
Camp Elim obtains a $125,000, 6%, five-year loan for a new camp bus on January 1, 2018. If the monthly payment is $2,416.60, by how
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Camp Elim obtains a $125,000, 6%, five-year loan for a new camp bus on January 1, 2018. If the monthly payment is $2,416.60, by how much will the carrying value decrease when the first payment is made on January 31, 2018?
$1,791.60
$625.00
$2,416.60
$1,000.60
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Financial & Managerial Accounting For Undergraduates
Authors: Jason Wallace, James Nelson, Karen Christensen, Theodore Hobson, Scott L. Matthews
2nd Edition
161853310X, 9781618533104
