Ace Electronics accepted a promissory note from Fenstermaker,who promised to pay Ace $2,000 plus 6% interest at the end of six months.What is the amount of interest that will be paid at the end of the six-month period?

Question

Quizplus · Accepted Answer

To find the amount of interest, we need to calculate 6% of $2,000, which is $120. The total amount that Fenstermaker will pay at the end of six months is $2,000 + $120 = $2,120. Therefore, the correct answer is (C) $60.

Ace Electronics Accepted a Promissory Note from Fenstermaker,who Promised to Pay