The interest charged on a $50,000, 60-day note payable, at the rate of 6%, would be

Name: The interest charged on a $50,000, 60-day note payable, at the rate of 6%, would be
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The interest is calculated using the formula: Interest = Principal x Rate x Time. Here, the principal is $50,000, the rate is 6% (or 0.06), and the time is 60 days out of 365 days in a year. So, Interest = $50,000 x 0.06 x (60/365) = $500.

The Interest Charged on a $50,000, 60-Day Note Payable, at the Rate