The solution to this problem requires time value of money calculations. Reference to Tables 9-1 through 9-4 in the text is necessary to complete the calculations. The total amount of interest compounded quarterly on a $1,500 note payable for 1 year at 12% is
A) $180.00
B) $187.50
C) $ 45.00
D) $189.00

Question

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The Answer of The solution to this problem requires time value of money calculations. Reference to Tables 9-1 through 9-4 in the text is necessary to complete the calculations. The total amount of interest compounded quarterly on a $1,500 note payable for 1 year at 12% is
A) $180.00
B) $187.50
C) $ 45.00
D) $189.00

The Solution to This Problem Requires Time Value of Money