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  3. edward fowler borrowed $97,230 on march 1,2023. th

Edward Fowler borrowed $97,230 on March 1,2023. This amount plus accrued interest at 10% compounded...

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Accounting

Edward Fowler borrowed $97,230 on March 1,2023. This amount plus accrued interest at 10% compounded semiannually is to be repaid March 1,2023. To retire this debt, Edward plans to contribute to a debt retirement fund five equal amounts starting on March 1, 2028 and for the next 4 years. The fund is expected to earn 9% per annum

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