Phoebe Company borrowed $100,000 at 8 percent interest for three months. How much interest does the company
Question:
Phoebe Company borrowed $100,000 at 8 percent interest for three months. How much interest does the company owe at the end of three months?
a. $8,000
b. $2,000
c. $800
d. $200
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Related Book For
Financial Accounting
ISBN: 9781264229734
11th Edition
Authors: Robert Libby, Patricia Libby, Frank Hodge
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