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How much interest must Maggie record

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Question - On April 1, 2013, Maggie bought a new delivery truck for her business. The purchase price of the truck was $34,000. Maggie wrote a check for a 20% down payment. The interest rate on the loan is 8% and the loan period is nine months. How much interest must Maggie record when she pays off the loan on December 31st?

Reference no: EM132531887

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