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Find the remaining amount is the interest owed on the first

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Problem 1: Notes payable is composed of separate notes and accrued interest. One note of $20,500 is due in March of 2020. The second note, a $72,000 note, is due in 5 annual installments, with the first payment due May 1, 2020. The remaining amount is the interest owed on the first note.

Reference no: EM132680000

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