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Question 5: Calculate the total interest for the following notes receivables: A $10,000 note receivable for one year at an annual interest rate of 7%.

Question 5: Calculate the total interest for the following notes receivables:

  1. A $10,000 note receivable for one year at an annual interest rate of 7%.

  1. A $10,000 note receivable for four months at an annual interest rate of 7%.

  1. A $10,000 note receivable for 9 months at an annual interest rate of 7%.

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