DeNova Real Estate Signed a Four-Month Note Payable in the Amount

question 287

Multiple Choice

DeNova Real Estate signed a four-month note payable in the amount of $8,000 on September 1. The note requires interest at an annual rate of 6%. The amount of interest to be accrued at the end of September is:

• A) $480.
• B) $120.
• C) $40.
• D) $90.

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