How to solve

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Answer the following questions. $($Round interest rate to $0$ decimal places, e$.$g$.7\%.)$

$(1)$ If the note has been outstanding $3$ months, what is the annual interest rate on that note?

The annual interest rate

$(2)$ If the company paid $$13,220$ in salaries and wages in $2025,$ what was the balance in Salaries and Wages Payable on De

$31,2024?$

The balance in Salaries and Wages Payable