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Tropical Paradise borrows $24,000 and agrees to a 5%, five-year installment loan with the bank. Payments of $452.91 are due at the end of each

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Tropical Paradise borrows $24,000 and agrees to a 5%, five-year installment loan with the bank. Payments of $452.91 are due at the end of each month. How much interest should be recorded for the first month? All $452.91 is attributable to interest. $100.00 $0 $352.91

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