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Required information of 4 The following information applies to the questions displayed below] On January 1, 2021, Gundy Enterprises purchases an office building for $239,000,
Required information of 4 The following information applies to the questions displayed below] On January 1, 2021, Gundy Enterprises purchases an office building for $239,000, paying $49,000 down and borrowing the remaining $190,000, signing a 9% , 10- year mortgage. Installment payments of $2,406.84 are due at the end of each month, with the first payment due on January 31, 2021. 4. Total payments over the 10 years are $288,821 ($2,406.84 x 120 monthly payments). How much of this is interest expense and how much is actual payment of the loan? ok Interest expense 17,100 $ 271,721 Actual payments on the loan ces
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