Question: A note payable with a face amount of $50,000, dated June 15, 20X1, due in three months, bearing interest at 7 percent. (Round your Interest

A note payable with a face amount of $50,000, dated June 15, 20X1, due in three months, bearing interest at 7 percent. (Round your "Interest rate" answer to two decimal places. i.e., 1% should be entered as 0.01.)

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