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  3. ) on december 1, 2016, gardner products borrowed $

) On December 1, 2016, Gardner Products borrowed $85,000 on a 11%, 16-year note with...

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Accounting

) On December 1, 2016, Gardner Products borrowed $85,000 on a 11%, 16-year note with annual installment payments of $5313 plus interest due on December 1 of each subsequent year. Which of the following describes the first installment payment made on December 1, 2017? (Round your answer to the nearest whole number.)

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