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Assume Royal Corporation borrowed $110,000 for two years with a stated interest rate of 9%....

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Accounting

Assume Royal Corporation borrowed $110,000 for two years with a stated interest rate of 9%. Interest is not compounded. What is the total interest expense?
Begin by selecting the label for the simple interest formula.
1
Now compute the total interest expense.
The amount of interest Royal Corporation will pay at the end of the loan term is
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