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SE&J, Inc. borrowed $340,000 on January 1,2022 , with a 5% interest rate. It will make a payment of $95,884 annually (beginning December 31,2022 )

image text in transcribed SE\&J, Inc. borrowed $340,000 on January 1,2022 , with a 5% interest rate. It will make a payment of $95,884 annually (beginning December 31,2022 ) until the note is paid off on December 31,2025 . The company's fiscal year ends on December 31 . The payment includes interest and principal. Read the requirements

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