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During the current year, your company lent $40,083 at 5.2% for 12 months. If this loan was given on January 31st of the current year,
During the current year, your company lent $40,083 at 5.2% for 12 months. If this loan was given on January 31st of the current year, calculate the total interest income that your company will report on this note this year. (round to the nearest dollar and do not enter dollar sign or comma. e.g. Enter $5,421.42 as 5421)
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