On January 1, 2022, James Inc. signed a 3-year, $300,000 installment note at an interest...
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Accounting
On January 1, 2022, James Inc. signed a 3-year, $300,000 installment note at an interest rate of 5%. James will repay the note in three equal, annual payments starting on December 31 2022. What is the amount of each installment payment?
Group of answer choices
a. $105,000
b. $100,000
c. $104,917
d. $110,162
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