Parker Company borrowed $150,000 and signed a 5-year 4% note requiring monthly payments that would consist of

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Question:

Parker Company borrowed $150,000 and signed a 5-year 4% note requiring monthly payments that would consist of a fixed amount of principal with interest added on. Payments are due at the end of each month.
How much principal will be repaid each month?

$3,000

$2,500

$30,000

the amount will vary