What total amount of interest to be paid over life of loan


Sielert Corporation borrowed $600,000 from National Bank on May 31, 2011. The three-year, 7% note required annual payments of $228,630 beginning May 31, 2012. The total amount of interest to be paid over the life of the loan is ?

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Accounting Basics: What total amount of interest to be paid over life of loan
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