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Sandusky company borrowed 10,000 from the lakeside bank by issuing a 10% three year installment note. Sandusky agreed to repay the principal and interest by

Sandusky company borrowed 10,000 from the lakeside bank by issuing a 10% three year installment note. Sandusky agreed to repay the principal and interest by making annual payments in the amount of 4,021.15. Based on this information the amount of the interest expense associated with the second payment would be

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