According to the ________ argument, as an industry grows and matures, it gains the knowledge it needs to become more innovative, efficient, and competitive

___________: Major marketing activities, key market segments, competitive position

Fill in the blank(s) with the appropriate word(s).

Going Places Adventure Travel signed a 14%, 10-year note for $152,000. The company paid an installment of $2,200 for the first month. After the first payment, what is the principal balance? (Round your answer to the nearest whole number.)

A) $149,800 B) $150,227 C) $151,573 D) $154,200