A 4-month, 9 percent note payable that is paid on maturity would incur total interest of: Multiple Choice There would be no interest on the note because it was held for less than a year. 4 percent because the note is for half a year. 3 percent because the note is only for a third of a year, and 1/3 of 9 percent is 3 percent. 9 percent because that is the stated rate of interest on the