A 1-year 19800 12 percent note is signed on april 1 if the
A 1-year, $19,800, 12 percent note is signed on April 1. If the note is repaid on December 1 of the same year, how much interest expense is incurred? (Do not round intermediate calculations.)
$1,584
$2,376
$1,386
$1,782
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