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Packit Corporation has an $80,000 note that carries an annual interest rate of 10%. If...

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Accounting

Packit Corporation has an $80,000 note that carries an annual interest rate of 10%. If the amount of the total interest due on the note is equal to $8,000, what is the duration of the note in months?
2 months
6 months
8 months
12 months
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