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On the first day of the fiscal year, a company issues $36,000,5%, five-year installment notes that have annual payments of $8,530. The first note payment

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On the first day of the fiscal year, a company issues $36,000,5%, five-year installment notes that have annual payments of $8,530. The first note payment consists of $ 1,800 of interest and $ principal repayment

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