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Paris company buys a building on a part of land for $100,000, paying $20,000 cash and signing a 20 year mortgage note for $80,000 at
Paris company buys a building on a part of land for $100,000, paying $20,000 cash and signing a 20 year mortgage note for $80,000 at 6%. Monthly payments are $570. what portion of the first monthly payment is interest expense?
a.) $4,800
b.) $570
c.) $550
d.) $400
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