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Sell-it-Again is a private enterprise that sells used furniture. It sold some merchandise for $120,000 on January 1, 2020. The customer paid $35,000 in

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Sell-it-Again is a private enterprise that sells used furniture. It sold some merchandise for $120,000 on January 1, 2020. The customer paid $35,000 in cash and issued a note for the remainder. The principal will be due in 2 years, and a 5% interest is due every December 31st. The customer's barrowing rate is 7%.

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