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On January 1, 2014, the Minton Company borrowed $174,000 cash from the Hometown Bank by issuing a five-year 8% term note. The principal and interest
On January 1, 2014, the Minton Company borrowed $174,000 cash from the Hometown Bank by issuing a five-year 8% term note. The principal and interest are repaid by making annual payments beginning on December 31, 2014. The annual payment on the loan was $40,875. The amount of principal repayment included in the December 31, 2014 payment is: 
On January 1, 2014, the Minton Company borrowed $174,000 cas payments beginning on December 31, 2014. The annual payment The amount of principal repayment included in the December 31, O $13,920 O $26,955. O $37605 O $40,875
On January 1, 2014, the Minton Company borrowed $174,000 cash from the Hometown Bank by issuing a five-year 8% term note. The principal and interest are repaid by making annual payments beginning on December 31, 2014. The annual payment on the loan was $40,875.
The amount of principal repayment included in the December 31, 2014 payment is:
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