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OpenStudy (anonymous):
$80,000 two year note payable annual interest rate on the note is 6%. Interest accruals are calculated using a 365-day year with the day after the note was made counting as the first day. the terms of the note payable call for the following payments $4800 interest payments on 12-16-14 and 12-16-15. $80000 principal payment on 12-16-15 calculate interest accrual
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