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Dan Dayle started a business by issuing an $84,000 face value note to First State Bank on January 1, 2018. The note had an 6
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Answer #1

a) Interest expense = 84000*6% = 5040

Principal = 19941-5040 = 14901

b) Principal balance = 84000-14901 = 69099

c) Interest expense = 69099*6% = 4146

Principal = 19941-4146 = 15795

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