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Question 12 4 pts A company obtains a $125,000,6%, five-year loan for new equipment on January 1, 2021 and will be making monthly payments of

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Question 12 4 pts A company obtains a $125,000,6%, five-year loan for new equipment on January 1, 2021 and will be making monthly payments of $2,416.60. What amount will be recorded for interest expense for the first month's payment on January 31, 2021? $625 $7,500 $1,000 $125

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