Question: Nike store signed a four-month note payable in the amount of $30,000 on September 1. The note requires interest at an annual rate of 5%.

Nike store signed a four-month note payable in the amount of $30,000 on September 1. The note requires interest at an annual rate of 5%. The amount of interest to be accrued at the end of September is:

Select one:

a. $500.

b. $200.

c. $125.

d. $1,500.

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