The interest charged on a $98000 note payable, at the rate of 6%, on a 4-month note would be O $5880. O $2940. O $980. O $1960.

Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter21: Cash Budgeting (cashbud)
Section: Chapter Questions
Problem 3R: Can the 10,000 note be repaid on May 1? Explain.
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The interest charged on a $98000 note payable, at the rate of 6%, on a 4-month note would be
$5880.
$2940.
$980.
O $1960.
Transcribed Image Text:The interest charged on a $98000 note payable, at the rate of 6%, on a 4-month note would be $5880. $2940. $980. O $1960.
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