Assume that on October 1, 2011, Big Company borrowed ($ 10,000) from the local bank at 6
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Assume that on October 1, 2011, Big Company borrowed \(\$ 10,000\) from the local bank at 6 percent interest. The note is due on October 1, 2012. How much interest does Big pay in 2011? How much interest does Big pay in 2012? What amount of cash does Big pay back in 2012?
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In 2011 Big Company borrows 10000 at 6 percent interest The amount of interest paid in 2011 is 100...View the full answer
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