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The following information is available regarding the interest revenue recognized on a note receivable: Face Value Fraction of the Year Interest $50,000 9 months $1,500

The following information is available regarding the interest revenue recognized on a note receivable: Face Value Fraction of the Year Interest $50,000 9 months $1,500 Question: What must have been the annual interest rate on this note? Select one: a. 4% O b. 8% C. 6% d. 3% e. 2%

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