(Answered) Question after an especially booming year selling

Accounting

Question: After an especially booming year selling beavertails, you are looking to expand your store. To expand and renovate you will require a loan. After speaking with your good friend and wealthy businesswoman Karen, on January 1st 20x6 you both agree to a loan of $230087.45 as a note at 4.37%. You will pay Karen blended principal and interest payments of $48372.70 each December. With the payment on December 31 st 20x6, how much of the principal are you paying off? Select one:

$10054.82

$2113.89

$38317.88

$24186.35

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