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Hitman42 [59]
3 years ago
9

On July 1, Smith Company borrowed $430,000 cash by signing a 10-year, 8% installment note requiring equal payments each June 30

of $64,083. What amount of interest expense will be included in the first annual payment?
a. $29,683
b. $34,400
c. $400,317
d. $43,000
e. $64,083
Business
1 answer:
ehidna [41]3 years ago
7 0
It should be e $64,083
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