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Group 7 On December 31, 2020, TEL Corporation borrowed $85,000 by signing an eight-year, 6% installment note. The note requires eight equal payments of accrued

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Group 7 On December 31, 2020, TEL Corporation borrowed $85,000 by signing an eight-year, 6% installment note. The note requires eight equal payments of accrued interest and principal on I December 31 of each year from 2021 to 2028. Compute the amount for the eight equal payments and prepare an amortization table for this installment

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