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If the Interest Rate on a Note Is 12% and the Principal

Question 1

Multiple Choice

If the interest rate on a note is 12% and the principal was $60,000,what is the interest expense for the 8 month note? (Round your final answer to the nearest dollar. )


A) $3,600
B) $4,800
C) $7,200
D) $7,800

Correct Answer:

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