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The total interest charged on a $400,000 note payable, at the rate of 8%, on...

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Question

Accounting

The total interest charged on a $400,000 note payable, at the rate of 8%, on a 90-day note would be:

Select one:

a. $17,776.

b. $8,000.

c. $2,666.

d. $32,000.

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