Question: Able Electronics Company issues a $ 1 , 0 0 0 , 0 0 0 , 8 % , 2 0 - year mortgage note

Able Electronics Company issues a $1,000,000,8%,20-year mortgage note on January 1. The terms provide for annual installment payments, exclusive of real estate taxes and insurance, of $101,852. After the first installment payment, the principal balance is

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