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Sunland Wholesalers accepts from Gates Stores a $ 4 , 0 0 0 , 4 - month, ( 9 % )

Sunland Wholesalers accepts from Gates Stores a

\

4, 000, 4 -

month,

\ (9 \ % \)

note dated May

31

in settlement of Gates' overdue account. The maturity date of the note is September

30 . (

1)

Calculate the interest payable at maturity. Interest payable at maturity

\ (\

\)

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