The Interest Charged on a $70,000, 2-Month Note Payable, at the Rate

question 100

Multiple Choice

The interest charged on a $70,000, 2-month note payable, at the rate of 6%, would be

• A) $4,200.
• B) $2,100.
• C) $1,050.
• D) $700.

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Definitions:

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A measurement of distance in the metric system that equals 1,000 meters, frequently used to gauge the space between different geographic points.

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