Question: Borrowed $30,000 by signing a 5-year. Installment note with 5% interest and annual payments of $6,929.24.What would be the amount of interest expense for the

Borrowed $30,000 by signing a 5-year. Installment note with 5% interest and annual payments of $6,929.24.What would be the amount of interest expense for the 1st period?

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