Question: On August 1 , 2 0 2 4 , a company accepts an $ 8 , 0 0 0 , 9 - month note receivable.

On August 1,2024, a company accepts an $8,000,9-month note receivable. For 2024, the company reports interest revenue of $200. What is the interest rate on the note?
Multiple Choice
5%
7%
6%
8%

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