Question: A $40,000 loan at 4% dated June 10 is due to be paid on October 11. The amount of interest is (assume ordinary interest): Multiple

A $40,000 loan at 4% dated June 10 is due to be paid on October 11. The amount of interest is (assume ordinary interest): Multiple Choice $503.00 $2,500.00 $546.67 $105.33 None of these

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