IOU for Family Member
IOU for Family Member (I OWE YOU)
Date: September 5, 2050
Issuer (Borrower) Information:
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Name: [YOUR NAME]
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Address: 789 Elm Street, Springfield, IL 62704
Recipient (Lender) Information:
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Name: Laura Johnson
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Address: 101 Pine Road, Springfield, IL 62704
Amount Borrowed:
$3,500.00
Repayment Terms:
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Date of Loan: September 5, 2050
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Repayment Deadline: September 5, 2051
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Interest Rate: 4% per annum (compounded annually)
Details of the Loan:
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Total Amount to be Repaid: $3,640.00 (including interest)
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Payment Schedule: Monthly payments of $303.33 starting October 5, 2050
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Method of Payment: Bank transfer to Laura Johnson's account
Signatures:
[YOUR NAME]
Borrower
September 5, 2050
Laura Johnson
Lender
September 5, 2050
