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Let . Find the value of .
Installment Note
A debt instrument that requires a series of periodic payments, typically consisting of both principal and interest.
Annual Payments
Periodic payments made once every year.
Carrying Amount
The net amount at which an asset or liability is reported on the balance sheet, calculated as the original cost minus any accumulated depreciation, amortization, or impairment costs.
FICA - Medicare
Part of the Federal Insurance Contributions Act taxes, specifically aimed at funding Medicare, a healthcare program for the elderly and certain disabled individuals in the United States.
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