A Firm Has Notes Payable of $1,546,000, Long-Term Debt of $13,000,000

question 36

Multiple Choice

A firm has notes payable of $1,546,000, long-term debt of $13,000,000, and total interest expense of $1,300,000. If the firm pays 8 percent interest on its long-term debt, what rate of interest does it pay on its notes payable?

• A) 8.2%
• B) 13.1%
• C) 16.8%
• D) 18.0%
• E) 15.3%

Learn the importance of setting and pursuing sustainability goals within an organization.

Acknowledge the role and treatment of whistle-blowers within the corporate and legal framework.

Distinguish between responsible and irresponsible behavior in the context of organizational ethics and whistle-blowing.

Understand the steps required for an organization to become sustainable.