Calculate the total interest for a short term notes payable

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Question - Calculate the total interest for a short term notes payable.

Libby secured a three-month loan at an interest rate of 4.5% and borrowed $25,000 to purchase a truck.

a) $1,575.00

b) $281.25

c) $1,125.00

d) $393.75

Reference no: EM132621015

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