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Campus Flights takes out a bank loan in the amount of $342,344 on March 1. The terms of the loan include a repayment of principal

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Campus Flights takes out a bank loan in the amount of $342,344 on March 1. The terms of the loan include a repayment of principal in 7 equal installments, paid annually from March 1. The annual interest rate on the loan is 6%, recognized on December 31. Compute the interest recognized as of December 31 in year 1 rounded to the whole dollar

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