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kari74 [83]
3 years ago
15

Jacobs Company borrowed $100,000 at 8 percent interest for three months.

Business
1 answer:
ASHA 777 [7]3 years ago
4 0

Answer:

B. $2,000

Explanation:

The principal amount is $100,000

Interest rate is 8% usually per year ( 12 months)

Loan duration, three months:

Annual interest = $100,000.00 x 8%

   =$100,000.00x 0.08

   =$ 8000.00

Interest for 3 months

   =3/12x$8000.00

   =0.25x$8000.00

   =$2000

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