On November 1, Brown Company purchases equipment costing $100,000 by signing a 3-month, 8% note payable (simple interest). The amount of interest that has accrued on this note at December 31 amounts to

a.

$1,333.

b.

$2,000.

c.

$5,333.

d.

$8,000.

e. none of the abov

Use the information above for Brown Company. The maturity value of the note is

	a.	$100,000.
	b.	$102,000.
	c.	$105,333.
	d.	$108,000.
	e.	none of the above

e