Question: The interest charged on a $200,000 note payable, at the rate of 12%, on a 60-day note would be 1) $12,000. 2) $4,000. 3)

The interest charged on a $200,000 note payable, at the rate of

The interest charged on a $200,000 note payable, at the rate of 12%, on a 60-day note would be 1) $12,000. 2) $4,000. 3) $2,000. 4) $6,000.

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