Answered: What amount of interest will be charged…

What amount of interest will be charged on $20 000 in 1 month for a simple interest of 5.99%? Question 20 options: A) $119.80 B) $1198 C) $99.83 D) $9.98 E) $0

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

What amount of interest will be charged on $20 000 in 1 month for a simple interest of 5.99%?

Question 20 options:

$119.80

$1198

$99.83

$9.98

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