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Business, 23.07.2019 01:40 rleiphart1

On december 1, 20x1, money co. gave home co. a $200,000, 11% loan. money paid proceeds of $194,000 after the deduction of a $6,000 nonrefundable loan origination fee. principal and interest are due in 60 monthly installments of $4,310, beginning january 1, 20x2. the repayments yield an effective interest rate of 11% at a present value of $200,000 and 12.4% at a present value of $194,000. what amount of income from this loan should money report in its 20x1 income statement? a. $0b. $1,833c. $2,005d. $7,833

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On december 1, 20x1, money co. gave home co. a $200,000, 11% loan. money paid proceeds of $194,000 a...
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