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On September 1,2012,Company B Signed a $7,392,two-Year Non-Interest-Bearing Note Payable

Question 65

Multiple Choice

On September 1,2012,Company B signed a $7,392,two-year non-interest-bearing note payable in full on August 31,2014.Company B received $6,000 cash.What was the yield or effective rate of interest?


A) 11 percent
B) 14 percent
C) 18 percent
D) 23 percent

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