Question: he interest charged on a $125,000, 4-month note payable, was $1,250. What was the rate of interest on the note? 1.5% 6.0% 10.0% 3.0%

he interest charged on a $125,000, 4-month note payable, was $1,250. What was the rate of interest on the note?

1.5%

6.0%

10.0%

3.0%

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