Johnson receives a 3-month 6% note from a customer in the amount of $1,000. At maturity, the note will have earned how much interest?
A. $60
B. $5
C. $15
D. None of these
Answer:C
Johnson receives a 3-month 6% note from a customer in the amount of $1,000. At maturity, the note will have earned how much interest?
A. $60 B. $5 C. $15 D. None of these