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Harriet Corp borrowed $200,000 from the first state bank. The note issued by Harriet carried an interest rate of 8% fixed, and interest. If the
Harriet Corp borrowed $200,000 from the first state bank. The note issued by Harriet carried an interest rate of 8% fixed, and interest. If the annual installments of principal and interest. If the annual payments are $29,806 , what is the interest expense for: a) the first year and b) the second year?
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