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You write a check (#1121) to Martin's father (Richard Smith) for February interest. Martin also...

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Accounting

You write a check (#1121) to Martin's father (Richard Smith) for February interest. Martin also asks you to include a $100 principal payment in the check. He wants to start paying his father back. TIP: Interest was paid through 1/31 on 2/1. Ignore the number of days in February. Apply the 6% annual rate to the principal balance and calculate one month's interest.

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