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A Company Signs a Note Payable for $3,500 at 9

Question 18

Multiple Choice

A company signs a note payable for $3,500 at 9% for 45 days.How much interest (to the nearest cent) will the company owe using a 360-day year?

A) $354.38
B) $315.00
C) $39.38
D) $38.84

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