Multiple Choice
The solution to this problem requires time value of money calculations.Reference to Tables 9-1 through 9-4 in the text is necessary to complete the calculations.
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If interest is compounded annually,the total amount of interest on an $18,000 note payable for four years at 10% is
A) $5,706.
B) $7,200.
C) $8,352.
D) $8,500.
Correct Answer:
Verified
Correct Answer:
Verified
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