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Douglas Company Has a $60,000 Note That Carries an Annual

Question 137

Multiple Choice

Douglas Company has a $60,000 note that carries an annual interest rate of 10%.If the amount of the total interest on the note is equal to $4,500, then what is the duration of the note in months?


A) 6 months
B) 4 months
C) 12 months
D) 9 months

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