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How much is the total interest income

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Question - On January 1, 2020, Dandy Co. received a 11%, four-year note from a customer. The interest on the note is paid every June 30 and December 31. The note has a face value of 5,000,000. The effective rate applicable on the note is 9%. How much is the total interest income in 2021?

Reference no: EM133024319

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