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On January 1 , Year 1 , the Platte Corporation issues a 5 -year note payable for $5,000. The interest rate is 5% and the

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On January 1 , Year 1 , the Platte Corporation issues a 5 -year note payable for $5,000. The interest rate is 5% and the annual payment of $1,156, due each December 31 , includes both interest and principal. Which of the following correctly shows the effects of the December 31 , Year 2 payment (rounded to the nearest whole dollar)? Multiple Choice Option A Option B Option C Option D

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