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Sam and Ellen rancher borrow $125,000 on January 15 and $175,000 on April 1 to purchase...

Sam and Ellen rancher borrow $125,000 on January 15 and $175,000 on April 1 to purchase cattle. Sam and Ellen repay in three equal payments of $100,000 on March 1, June 1, and November 1. calculate the total interest obligation if the interest rate is 7% and interest is charged on the dauky outstanding balance.
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Giren, Borrowing amount January 15 = 125000 April - 1 = 175000 interest rate = 7% Sam & Ellen repay in three equal payments o

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