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On the first day of the fiscal year, a company issues $75,000, 4%, five-year installment notes that have annual payments of $16,847. The first note
On the first day of the fiscal year, a company issues $75,000, 4%, five-year installment notes that have annual payments of $16,847. The first note payment consists of $3,000 of interest and $13,847 of principal repayment
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