If the interest rate on a note is 12% and the principal was $60,000,what is the interest expense for the 8 month note? (Round your final answer to the nearest dollar. )
A)$3,600
B)$4,800
C)$7,200
D)$7,800

Name: If the interest rate on a note is 12% and the principal was $60,000,what is the interest expense for the 8 month note? (Round your final answer to the nearest dollar. ) A)$3,600 B)$4,800 C)$7,200 D)$7,800
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Quizplus · Accepted Answer

$60,000 × 12% × 8/12 = $4,800

If the Interest Rate on a Note Is 12% and the Principal