On April $30,2018,$ Seattle First National Bank loaned $ $100$ comma $000$ to Pugliese Produce$,$Inc$.,$ on a$$ one$-$year, $8$ percent note.

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Part $1$

Requirement $1.$ Compute the interest on the note for the years ended December$31,2018,$ and December $312019.$ Round interest calculations to the nearest dollar.

Start by determining the formula needed to compute interest.

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Amount of interest