If the Interest Rate on a Note Is 12% and the Principal

question 1

Multiple Choice

If the interest rate on a note is 12% and the principal was $60,000,what is the interest expense for the 8 month note? (Round your final answer to the nearest dollar. )

• A)$3,600
• B)$4,800
• C)$7,200
• D)$7,800

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