Multiple Choice
A firm arranged for a 120-day bank loan at an annual rate of interest of 10 percent. If the loan is for$100,000, how much interest in dollars will the firm pay? (Assume a 360-day year.)
A) $1,000
B) $10,000
C) $30,000
D) $3,333
Correct Answer:
Verified
Correct Answer:
Verified
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