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On January 1, 2018, Tropical Paradise borrows $34,000 by agreeing to a 6%, six year note with the bank. Loan payments of $563.48 are due
On January 1, 2018, Tropical Paradise borrows $34,000 by agreeing to a 6%, six year note with the bank. Loan payments of $563.48 are due at the end of each month with the first installment due on January 31, 2018. In the first payment, how much was the interest? (include two decimal places and no dollar sign)
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