Question: For a fixed principal repayment note with an 8% interest rate and monthly payments, use the following codes to explain how the cash payment is

For a fixed principal repayment note with an 8% interest rate and monthly payments, use the following codes to explain how the cash payment is calculated. C = cash payment E = interest expense R = reduction of principal P = principal balance Select answer from the options below

E + R

P - R

P + R

E - R

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