If Cee Ltd borrows $50,000 by issuing a 6%,three-year note,the total interest to be paid will be $9,000.

Name: If Cee Ltd borrows $50,000 by issuing a 6%,three-year note,the total interest to be paid will be $9,000.
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Question

Quizplus · Accepted Answer

The total interest to be paid can be calculated using the formula:

Total interest = Principal x Rate x Time

Total interest = $50,000 x 0.06 x 3

Total interest = $9,000

Therefore, the statement is true and the answer is A.

If Cee Ltd Borrows $50,000 by Issuing a 6%,three-Year Note,the