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Thompson Auto Repair Shop needed to take out a line of credit for 3 months. They borrowed $50,000 at a simple interest rate of
Thompson Auto Repair Shop needed to take out a line of credit for 3 months. They borrowed $50,000 at a simple interest rate of 12%. What amount of interest did the company pay on the line? $2,000 O $1,666 $1,500 $6,000
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Introduction to Financial Accounting
Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick
11th edition
978-0133251111, 013325111X, 0133251039, 978-0133251036
