Question: The TOTAL interest charged on a $75,000 note payable, at the rate of 8%, on a 3-month note would be: A. $6,000 B. $3,000 C.

The TOTAL interest charged on a $75,000 note payable, at the rate of 8%, on a 3-month note would be:

A. $6,000

B. $3,000

C. $1,500

D. $1,000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

L1.(40 points) each multiple choice question, select the gne best answer and mark the appropriate box on the ntron form Gomel Corporation issues 800, 10-year, 8%, $1,000 bonds dated January 1, 2015,...

Q:

Top of Form Question 1 (1 point) A responsibility center that incurscosts (and expenses) and generates revenues is classified as a(n): Question 1 options: revenue center. investment center. cost...

Q:

Top of Form Question 1 (1 point) A responsibility center that incurscosts (and expenses) and generates revenues is classified as a(n): Question 1 options: revenue center. investment center. cost...

Q:

Waith/AppData/local/Temp/Temp1_SF13eDG_Win%20(1).zip/Solid%20Footing%2013%20Fall/Book%20PDF%20files/04%20-%20Revenue, 2 + EAD Read aloud y Draw Torpresowym orary See more February's transactions and...

Q:

I need help with this Budget Modeling Assignment. I need this done exactly as it asks and with every white cell containing the appropriate Excel Formula. I will post screenshots of all the Excel...

Q:

page 1(accounting) Barney Traders - owned by Mr. Barney, a sole trader - sells superhero memorabilia, model ships and earoplanes. The business's year end is 28 February. Where applicable, assume that...

Q:

Problem 11-3 Larry's Landscaping March Statement of Cash Flows The following are the Balance Sheets for Larry's Landscaping as of February 28, 2017 (the end of last period) and March 31, 2019 (the...

Q:

=+2-49 KK Finding unknown amounts OBJECTIVE 5 An auditor for the Australian Taxation Office is trying to reconstruct some partially destroyed records of two taxpayers. For each of the cases in the...

Q:

Please help me in answering question 1 and 2 of assignment 1. FIN4801 2016 APPENDIX A: ASSIGNMENTS FOR 2016 Note: All calculations must be shown clearly ASSIGNMENT 01 UNIQUE NUMBER: 891054 [50marks]...

Q:

Good day Please assist me with assignment 2.please find the attached document with the assignment. FIN4801 2016 APPENDIX A: ASSIGNMENTS FOR 2016 Note: All calculations must be shown clearly...

Q:

The Penn State relative permeability apparatus was used in a steady- state flow process to btain the data given below at a temperature of 70F. Draw the relative permeability curves with respect to...

Q:

Industrial Fluids, Ltd. (IFL) manufactures and sells fluids used by metal-cutting plants. These fluids enable metal-cutting to be done more accurately and more safely. IFL has more than 1,000...

Q:

Which one of the followings has unlimited liability? Group of answer choices A general partner in a limited partnership A limited partner in a limited partnership A shareholder in an S - corporation...

Q:

6. Discuss the vision, objectives, activities, and achievements of IUCN or UNEP.

Q:

5. a. Define Sustainable Agriculture. Mention the advantages of Sustainable Agriculture. b. Briefly discuss the principles of Sustainable Agriculture.

Q:

2. a. What do you mean by sewage treatment? b. Briefly discuss the categories/steps of sewage treatment.

Q:

Solve this system of equations using any method y=-x-2 5x-3y=22

Q:

Give the major organic product of the reactions shown below. (1) B2H6 (a) (2) H2O2, OH- (1) B2H6 (b) (2) .2, -

Q:

Tori and some other childeen experimented with balls to see which ones rolled. First using a piece of cardboard to use as a ramp, they angled it on a block to the floor to test the balls. Then Tori...

Q:

Define the accounting process, and briefly explain how it is a dynamic phenomenon.

Q:

Last vear Martin Motors reported the following income statement: Income statement Sales S2,000,000 Cost of goods sold 1,200,000 EBITDA S 800,000 Depreciation and amortization 500,000 Operating income...

Q:

Compile a list of the format of secondary data that physically exist at your nearest library. Comment on the usefulness of each format in terms of your own area of research.