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Dan Dayle started a business by issuing an $ 8 2 , 0 0 0 face value note to First State Bank on January 1
Dan Dayle started a business by issuing an $ face value note to First State Bank on January Year The note had a percent annual rate of interest and a five year term. Payments of $ are to be made each December for five years.
Required:
a What portion of the December Year payment is applied to interest expense and principal?
b What is the principal balance on January Year
c What portion of the December Year payment is applied to interest expense and principal?
Note: Round your answers to the nearest dollar amount.
tablea Interest expensea Principalb Principal balancec Interest expensec Principal
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