RMX Company purchased a Truck on January 2 by signing a long-term $80,000 note payable with annual
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Question:
RMX Company purchased a Truck on January 2 by signing a long-term $80,000 note payable with annual equal payments of $10,869.42. Interest on the note was 6%. If the note is for 10 years, how much is the total interest paid by the company over the whole period?
a). $22,361.2.
b). $48,000.
c). $28,694.2.
d). Can not be calculated.
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