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d.SU de Mestrale and 1/12 $24,000 x 5%* 1/12 - $100.00 The remaining portion of the payment ($352.91) reduces the carry value. Hotseat Question #9-4

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d.SU de Mestrale and 1/12 $24,000 x 5%* 1/12 - $100.00 The remaining portion of the payment ($352.91) reduces the carry value. Hotseat Question #9-4 Cannonball, Inc. borrows $25,000 at 6% and agrees to a monthly payment of $587.13 are due at the end of each month for 48 months. How much interest should be recorded for the second month? a. $31.25 (b.$122.69 c.$462.13 d.$125.00

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