On March 1, Hugh Corporation plans to borrow $450,000 from the Scotland State Bank by signing a 6%, 15-year note payable. The note calls for 180 monthly payments of $3,800, which includes both interest and principal components. Of Hugh's budgeted debt service cost of $3,800 in March, the amount applied to the principal of the note totals: Multiple Choice $3,800. $150. $2,250. $1,550 < Prev 15 of 50 Next >