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Problem 6 (10 points). Notes payable and related amortization You will need to calculate the annual
cash payment related to equipment purchased on credit. You will also need to complete an amortization
table related to the note payable on the equipment purchase. Study the section on Serial Notes and Bonds
in Chapter 3 and Exhibit 3-5 on page 20 of that chapter. Also, rework Exercise 3-4 from Chapter 3.

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