What is the value today of receiving $15,000 at the end of four years, assuming an interest rate of 6% compounded annually? $ 11,400. $11,881. $18,937. $12,300 In each succeeding payment on an installment note: The amount of interest expense decreases. The amount of interest expense increases. The amounts paid for both interest and principal increase proportionately, The amount of interest expense is unchanged. A company borrows $75,000, 4%, four-year loan for a truck on January 1, 2021 and will be making monthly payments of $1,693.43. What amount will be recorded for interest expense for the first month's payment on January 31, 2021? $67.72 $3,000 $1,000 $250