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A Company Borrowed $10,000 by Signing a 180-Day Promissory Note

Question 206

Multiple Choice

A company borrowed $10,000 by signing a 180-day promissory note at 9%. The total interest due on the maturity date is: (Use 360 days a year.)

A) $450
B) $1,800
C) $900
D) $300
E) $75

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