In January, Zelda Borrows $7,000 from Her Mother for Moving

question 60

Multiple Choice

In January, Zelda borrows $7,000 from her mother for moving expenses and clothes for starting her new job after graduating from college.She told her mother she would pay her 9 percent interest on the money but made no payments in the current year.If the applicable federal interest rate is 5 percent, how much interest income must Zelda's mother recognize?

• A)0
• B)$233
• C)$350
• D)$420

---

Definitions:

Haploid Gametes

Haploid gametes are reproductive cells that contain a single set of chromosomes and unite during sexual reproduction to form a diploid zygote.

Gonads

Gonads are the primary reproductive organs, with ovaries present in females and testes in males, responsible for producing gametes and hormones.

Gametogenesis

The process by which gametes are produced in the reproductive organs, involving meiosis to produce haploid sex cells.

Haploid Cells

Cells that contain one complete set of chromosomes, typical of gametes (sperm and eggs) in sexually reproducing organisms.