Greenwell Farm Equipment sells a tractor to Farmer for $50,000 on January 1, 2016. The tractor is delivered that day. Greenwell agrees that Farmer may delay the payment for 2 years. The market rate of interest is 8%
Refer to Greenwell Farms. How much interest revenue will Greenwell report on January 1, 2016?
A) $42,867
B) $4,286
C) $0.00
D) $4,000
Answer: C
Business
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