A deposit receipt said, "Seller to take back a second trust deed securing a note for $11,400, payable $240.00 or more per month, including interest at 7% per annum from March 15, 1979." If the first payment date on the second trust deed note is April 15, 1979, how much of the regular payment will go to the reduction of principal:
A: $90.25;
B: $149.75;
C: $154.50;
D: $173.50.
Answer: D: $173.50.
Business
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