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How much is the total interest income

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Question 1: On January 1, 2020, Jerome Co. received a 10%, four-year note from a customer. The interest on the note is paid every June 30 and December 31. The note has a face value of ?3,500,000. The effective rate applicable on the note is 12%. How much is the total interest income in 2020?

Reference no: EM132604531

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