A business borrows $1,000, giving a note that requires repayment of the amount borrowed in two payments

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A business borrows $1,000, giving a note that requires repayment of the amount borrowed in two payments of $600 each, one at the end of each of the next two 6-month periods. Calculate the total interest on the note. What is the principal amount of the note?  D-1

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Financial Accounting

ISBN: 9780070213555

5th Edition

Authors: Robert K. Eskew, Daniel L. Jensen

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