Question: On October 31, 2015 signed a 2 year installment note in the amount of $50,000 in conjunction with the purchase of equipment. This note is

On October 31, 2015 signed a 2 year installment note in the amount of $50,000 in conjunction with the purchase of equipment. This note is payable in equal monthly installments of $2,354, which include interest computed as an annual rate of 12%. The first monthly payment is made on November 30,2015

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