Multiple Choice
Mission Corp.borrowed $50,000 cash on April 1,2019,and signed a one-year 12%,interest-bearing note payable.The interest and principal are both due on March 31,2020.
-What is the amount to be paid to the bank on March 31,2020 for interest and principal?
A) $50,000.
B) $51,500.
C) $54,000.
D) $56,000.
Correct Answer:
Verified
Correct Answer:
Verified
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