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Chang, Inc. issued a 1 2 0 - day note in the amount of $ 2 8 8 , 0 0 0 on December 1

Chang, Inc. issued a

120 -

day note in the amount of $

288, 000

on December

16

of this year with an annual rate of

5 % .

What amount of interest has accrued as of December

31

of this year?

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