Question: A business borrows $1,000, giving a note that requires repayment of the amount borrowed in two payments of $600 each, one at the end of

A business borrows $1,000, giving a note that requires repayment of the amount borrowed in two payments of $600 each, one at the end of each of the next two six-month periods.
Calculate the total interest on the note. What is the principal amount of the note?

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