The Interest on a $40,000 Face Value, 120-Day Note That

question 68

Multiple Choice

The interest on a $40,000 face value, 120-day note that bears interest at 8 percent (Rounded to the nearest dollar. Assume 360 days in a year.) is

• A)$3,200.
• B)$1,067.
• C)$900.
• D)$267.

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