On August 1, a A company accepts an $8000, 9- month note receivable. For 2021, the...
Homework Answers
Interest amount = 200
Principal = 8000
Tenure = 9 months
Let the annual rate of interest be R
Interest amount = R*Principal* Tenure/12
200 = R*8000*9/12
R = 200/ (8000*9/12)
Rate =3.33%
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