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Sheldon borrowed $30,000 from the First National Bank of Bloomington on January 1, 2020. This loan...

Sheldon borrowed $30,000 from the First National Bank of Bloomington on January 1, 2020. This loan is amortized over 3 equal annual payments using an annual interest rate of 10.00%. The first annual payment of $12,063.44 is due on January 1, 2021. What amount of the first loan payment due on January 1, 2021 is interest?

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