A $20,000,3-Month,8% Note Payable Was Issued on November 1,2015

question 130

Multiple Choice

A $20,000,3-month,8% note payable was issued on November 1,2015.What is the amount of accrued interest on December 31,2015?

• A) $200
• B) $267
• C) $133
• D) $800