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Your Company borrowed $10,000 using a 10-year installment note. The interest rate is 6% and the annual payment of $1,359, due each December 31, includes

Your Company borrowed $10,000 using a 10-year installment note.  The interest rate is 6% and the annual payment of $1,359, due each December 31, includes both interest and principal. How much of the second payment would reduce principal?

Group of answer choices

$   600

 

$  804

 

$   855

 

$   759

 

$1,359

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