Question: Steed Company prepared a promissory note with a face value of $52,000, payable after 80 days, at a rate of 14%. Calculate the interest amount

Steed Company prepared a promissory note with a face value of $52,000, payable after 80 days, at a rate of 14%. Calculate the interest amount of the promissory note. Assume 365 days in a year. (Round to the nearest dollar.) a. $1,596 b. $479 c. $6,650 d. $703

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