Canaroo Inc

question 17

Multiple Choice

Canaroo Inc.sold $800,000 of two-year bonds for $701,500 less commissions of $50,500.Interest is of 5.5% is payable annually.What is the effective rate of interest (round to 2 decimal places) ?

• A)5.50 %
• B)8.43%
• C)8.65%
• D)17.29%

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Definitions:

Nucleic Acid

Macromolecules, including DNA and RNA, that store and transmit genetic information.

Pentose Sugars

A class of simple sugars that contain five carbon atoms, important in biological molecules like DNA and RNA.

Nitrogenous Bases

Organic molecules that make up the building blocks of nucleic acids, DNA and RNA, including adenine, guanine, cytosine, thymine (in DNA), and uracil (in RNA).

Beta Pleated Sheets

A structural motif in proteins characterized by zigzag folding of the peptide chain, contributing to the protein's overall stability.