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A Company Receives a 10%,120-Day Note for $1,500

Question 54

Multiple Choice

A company receives a 10%,120-day note for $1,500.The total interest due on the maturity date is: (Use 360 days a year.)

A) $50.00.
B) $150.00.
C) $75.00.
D) $37.50.
E) $87.50.

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