On December 31, 2020 Riverbed Company had the following account balances:

Notes Receivable		$269,500
Interest Receivable		4,125

Detail of the Notes Receivable is as follows:

Note 1 - 6-month 9% note dated 10/31/20		55,000
Note 2 - 2-year non-interest bearing note dated 1/1/20		82,500
Note 3 - 5-month interest bearing note dated 9/30/20		132,000

What is the interest rate on Note 3 (5-month interest bearing note)?

Interest rate on Note 3

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