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A company has a 6-month loan for $1,000 at 10% interest. Determine the amount of...

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Accounting

A company has a 6-month loan for $1,000 at 10% interest. Determine the amount of interest the company will pay in the 6-month period using this equation: (number of months divided by 12) multiplied by (interest percentage multiplied by loan amount). Select one. Question 4 options: $50 $70 $0 $60

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