Question: A corporation issues a $1,000,000, 11%, 20-year mortgage note. The terms provide for semiannual installment payments of $62,320. What is the remaining unpaid principal balance

A corporation issues a $1,000,000, 11%, 20-year mortgage note. The terms provide for semiannual installment payments of $62,320. What is the remaining unpaid principal balance of the mortgage payable account after the second semiannual payment?

$985,360

$984,957

$950,000

$985,929

$992,680

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